Block Energy (LON:BLOE) Stock Price Down 8.1% – Should You Sell?

Block Energy Plc (LON:BLOE) shares traded down 8.1% during mid-day trading on Wednesday . The stock traded as low as GBX 0.70 and last traded at GBX 0.74. 3,972,741 shares changed hands during mid-day trading, an increase of 135% from the average session volume of 1,688,076 shares. The stock had previously closed at GBX 0.80.

Block Energy Price Performance

The firm has a 50 day moving average price of GBX 0.77 and a two-hundred day moving average price of GBX 0.86. The company has a market cap of £7.33 million, a P/E ratio of -4.55 and a beta of 0.27. The company has a debt-to-equity ratio of 7.70, a quick ratio of 0.71 and a current ratio of 3.26.

About Block Energy

Block Energy plc is an AIM quoted independent oil and gas production and development company with a strategic focus on unlocking the energy potential of Georgia. With interests in seven Production Sharing Contracts in central Georgia, covering an area of 4,256 km2, including the XIB licence which has over 2.77TCF of 2C contingent gas resources, with an estimated Net Present Value 10 (“NPV”) of USD 1.65 billion, in the Patardzueli-Samgori, Rustavi and Teleti fields. (Source: IER, OPC 2024 & Internal estimates).

The Company has structured its operations around a four-project strategy.