Block Energy (LON:BLOE) Trading 23.1% Higher – Here’s Why

Block Energy Plc (LON:BLOE)’s share price traded up 23.1% on Tuesday . The stock traded as high as GBX 0.80 ($0.01) and last traded at GBX 0.80 ($0.01). 2,868,650 shares changed hands during mid-day trading, an increase of 71% from the average session volume of 1,680,562 shares. The stock had previously closed at GBX 0.65 ($0.01).

Block Energy Trading Up 33.4 %

The company has a market cap of £6.28 million, a P/E ratio of -1.19 and a beta of 0.27. The business has a fifty day simple moving average of GBX 0.73 and a 200 day simple moving average of GBX 0.86. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.71 and a current ratio of 3.26.

Block Energy Company Profile

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.