Block Energy (LON:BLOE) Trading 8.6% Higher – Should You Buy?

Block Energy Plc (LON:BLOE) rose 8.6% on Tuesday . The stock traded as high as GBX 0.95 ($0.01) and last traded at GBX 0.95 ($0.01). Approximately 124,994 shares traded hands during trading, a decline of 91% from the average daily volume of 1,462,480 shares. The stock had previously closed at GBX 0.88 ($0.01).

Block Energy Price Performance

The stock’s 50 day moving average price is GBX 0.88 and its two-hundred day moving average price is GBX 0.80. The firm has a market capitalization of £8.72 million, a price-to-earnings ratio of -6.74 and a beta of 0.27. The company has a debt-to-equity ratio of 7.70, a current ratio of 3.26 and a quick ratio of 0.71.

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.