Block Energy (LON:BLOE) Trading Down 4.5% – Here’s Why

Block Energy Plc (LON:BLOE)’s stock price fell 4.5% during trading on Monday . The stock traded as low as GBX 0.77 ($0.01) and last traded at GBX 0.84 ($0.01). 1,939,957 shares changed hands 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 Stock Performance

The company’s 50-day simple moving average is GBX 0.80 and its 200 day simple moving average is GBX 1. The stock has a market cap of £5.51 million, a P/E ratio of -1.19 and a beta of 0.27. The company has a current ratio of 3.26, a quick ratio of 0.71 and a debt-to-equity ratio of 7.70.

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.