Orcadian Energy (LON:ORCA) Stock Price Down 3.3% – Here’s Why

Orcadian Energy Plc (LON:ORCA) shares were down 3.3% during trading on Wednesday . The company traded as low as GBX 14.50 and last traded at GBX 14.50. Approximately 155,378 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 198,187 shares. The stock had previously closed at GBX 15.

Orcadian Energy Stock Performance

The company has a debt-to-equity ratio of 82.76, a quick ratio of 3.06 and a current ratio of 0.06. The stock’s fifty day moving average price is GBX 17.18 and its 200-day moving average price is GBX 13.71. The company has a market capitalization of £11.48 million, a P/E ratio of -12.95 and a beta of -2.29.

Orcadian Energy (LON:ORCA) last issued its earnings results on Friday, January 2nd. The company reported GBX (1.12) earnings per share (EPS) for the quarter. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 26.63%.

About Orcadian Energy

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. The field has 79mmbbls of proven plus probable reserves, based upon the low salinity polymer flood development plan described in the concept select report submitted to the OGA in September of 2020.