Petrel Resources (LON:PET) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Petrel Resources Plc (LON:PETGet Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 0.82 and traded as low as GBX 0.75. Petrel Resources shares last traded at GBX 0.79, with a volume of 1,000 shares traded.

Petrel Resources Stock Performance

The business has a 50 day simple moving average of GBX 0.73 and a 200-day simple moving average of GBX 0.82. The firm has a market cap of £1.64 million, a price-to-earnings ratio of -2.47 and a beta of 0.57.

Petrel Resources Company Profile

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Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 100% interest in the Frontier exploration license 3/14 located in Ireland. It also holds a 30% working interest in the Tano 2A Block covering an area of 1,532 square kilometers in Ghana; and holds interest in the Western Desert Block 6 located in Iraq. Petrel Resources Plc was incorporated in 1982 and is based in Dublin, Ireland.

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