Block Energy (LON:BLOE) Shares Down 12.5% – Should You Sell?

Block Energy Plc (LON:BLOE)’s stock price dropped 12.5% on Tuesday . The stock traded as low as GBX 0.70 ($0.01) and last traded at GBX 0.70 ($0.01). Approximately 226,498 shares changed hands during trading, a decline of 84% from the average daily volume of 1,446,389 shares. The stock had previously closed at GBX 0.80 ($0.01).

Block Energy Trading Down 12.5 %

The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.71 and a current ratio of 3.26. The firm has a 50 day simple moving average of GBX 0.72 and a two-hundred day simple moving average of GBX 0.82. The firm has a market capitalization of £6.42 million, a P/E ratio of -4.97 and a beta of 0.27.

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.