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

Orcadian Energy Plc (LON:ORCA) traded down 3.4% on Tuesday . The stock 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 Performance

The firm has a 50 day moving average of GBX 10.08 and a two-hundred day moving average of GBX 8.72. The company has a debt-to-equity ratio of 47.53, a current ratio of 0.10 and a quick ratio of 3.06. The stock has a market cap of £8.15 million, a PE ratio of -6.00 and a beta of -2.29.

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.