CGX Energy (CVE:OYL) Stock Price Down 32.3% – Here’s Why

CGX Energy Inc. (CVE:OYL)’s share price dropped 32.3% during mid-day trading on Tuesday . The stock traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares traded hands during trading, an increase of 1,055% from the average daily volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Trading Down 32.3 %

The company has a market capitalization of C$35.55 million, a price-to-earnings ratio of -10.50 and a beta of 1.33. The business’s 50 day simple moving average is C$0.15 and its 200 day simple moving average is C$0.17. The company has a debt-to-equity ratio of 78.75, a current ratio of 0.25 and a quick ratio of 0.10.

CGX Energy Company Profile

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana.