Block Energy (LON:BLOE) Shares Down 4.5% – Time to Sell?

Shares of Block Energy Plc (LON:BLOE) traded down 4.5% during trading on Monday . The company traded as low as GBX 0.77 ($0.01) and last traded at GBX 0.84 ($0.01). 1,939,957 shares were traded during mid-day trading, an increase of 27% from the average session volume of 1,528,063 shares. The stock had previously closed at GBX 0.88 ($0.01).

Block Energy Trading Down 9.1 %

The business’s 50-day simple moving average is GBX 0.80 and its two-hundred day simple moving average is GBX 1.01. The company has a current ratio of 3.26, a quick ratio of 0.71 and a debt-to-equity ratio of 7.70. The company has a market capitalization of £5.80 million, a PE ratio of -1.19 and a beta of 0.27.

Block Energy Company Profile

Block Energy Plc explores for, develops, and produces oil and gas in the Republic of Georgia. The company owns 100% working interests in West Rustavi, Block IX, Block XI, and Norio onshore oil and gas fields; and 90% working interest in Satskhenisi onshore oil field located in Kura basin. The company was formerly known as Goldcrest Resources Plc and changed its name to Block Energy Plc in May 2017.