Ascent Resources (LON:AST) Trading Down 10.5% – Here’s What Happened

Ascent Resources Plc (LON:AST)’s share price dropped 10.5% during mid-day trading on Monday . The company traded as low as GBX 1.70 ($0.02) and last traded at GBX 1.70 ($0.02). Approximately 1,195,742 shares traded hands during mid-day trading, an increase of 46% from the average daily volume of 820,153 shares. The stock had previously closed at GBX 1.90 ($0.02).

Ascent Resources Stock Performance

The firm’s 50 day moving average is GBX 1.92 and its 200 day moving average is GBX 1.77. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.24 and a current ratio of 0.39. The stock has a market cap of £3.60 million, a P/E ratio of -1.39 and a beta of 0.01.

Insiders Place Their Bets

In other Ascent Resources news, insider Andrew Dennan purchased 550,000 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average price of GBX 2 ($0.02) per share, with a total value of £11,000 ($13,696.92). Corporate insiders own 57.76% of the company’s stock.

Ascent Resources Company Profile

Ascent Resources Plc, together with its subsidiaries, operates as an independent oil and gas exploration and production company in Slovenia and the United Kingdom. It holds 75% interest in the Petiovci Tight gas project located in Slovenia. The company was incorporated in 2004 and is headquartered in London, the United Kingdom.