Orcadian Energy (LON:ORCA) Stock Price Down 3.4% – Here’s What Happened

Orcadian Energy Plc (LON:ORCA) shares dropped 3.4% during mid-day trading on Tuesday . The company traded as low as GBX 10 ($0.13) and last traded at GBX 10.63 ($0.14). Approximately 10,847 shares changed hands during trading, a decline of 82% from the average daily volume of 59,154 shares. The stock had previously closed at GBX 11 ($0.15).

Orcadian Energy Stock Down 3.4 %

The business’s fifty day moving average price is GBX 10.08 and its 200 day moving average price is GBX 8.72. The firm has a market capitalization of £8.15 million, a price-to-earnings ratio of -6.00 and a beta of -2.29. The company has a current ratio of 0.10, a quick ratio of 3.06 and a debt-to-equity ratio of 47.53.

Orcadian Energy Company Profile

Orcadian’s strategy is to secure discovered resources at low cost and to transform those resources into reserves and onto production

The Pilot field is our key asset. The field is well appraised and ready for development, Orcadian has selected, as the very best development concept, a low salinity polymer flood with two wellhead platforms, a dedicated FPSO, and a floating wind turbine.

Pilot is very well appraised with high quality modern 3D seismic and seven reservoir penetrations.