Block Energy (LON:BLOE) Trading 4.7% Higher – Here’s What Happened

Block Energy Plc (LON:BLOE) rose 4.7% during mid-day trading on Friday . The company traded as high as GBX 0.84 ($0.01) and last traded at GBX 0.84 ($0.01). Approximately 6,340,960 shares were traded during trading, an increase of 283% from the average daily volume of 1,654,754 shares. The stock had previously closed at GBX 0.80 ($0.01).

Block Energy Stock Up 17.1 %

The stock has a market capitalization of £8.87 million, a price-to-earnings ratio of -6.85 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. The firm’s fifty day simple moving average is GBX 0.73 and its 200 day simple moving average is GBX 0.81.

Block Energy Company Profile

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.