Orcadian Energy (LON:ORCA) Shares Down 7.4% – Here’s Why

Orcadian Energy Plc (LON:ORCAGet Free Report)’s stock price fell 7.4% during trading on Wednesday . The stock traded as low as GBX 12.50 and last traded at GBX 12.50. 4,761 shares were traded during trading, a decline of 95% from the average session volume of 94,395 shares. The stock had previously closed at GBX 13.50.

Orcadian Energy Price Performance

The stock has a market capitalization of £9.88 million, a price-to-earnings ratio of -10.42 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. The company’s 50 day moving average is GBX 13.19 and its 200 day moving average is GBX 10.90.

Orcadian Energy Company Profile

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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.

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