Block Energy (LON:BLOE) Shares Down 8.1% – Here’s Why

Block Energy Plc (LON:BLOE) dropped 8.1% during trading on Thursday . The stock traded as low as GBX 0.85 ($0.01) and last traded at GBX 0.85 ($0.01). Approximately 727,823 shares traded hands during trading, a decline of 52% from the average daily volume of 1,524,772 shares. The stock had previously closed at GBX 0.93 ($0.01).

Block Energy Stock Performance

The stock has a market capitalization of £7.34 million, a P/E ratio of -5.68 and a beta of 0.27. The stock has a 50 day simple moving average of GBX 0.82 and a two-hundred day simple moving average of GBX 0.79. The company has a quick ratio of 0.71, a current ratio of 3.26 and a debt-to-equity ratio of 7.70.

About Block Energy

Block Energy is an AIM-listed independent oil and gas Company with current oil and gas production and material production and cashflow led growth opportunities from fields in Georgia.

Led by a management team with unrivalled experience in the Caucasus, Block’s aim is to deliver near and medium-term cashflows for reinvestment into medium and longer-term high impact opportunities, though a four-project strategy.