Orcadian Energy (LON:ORCA) Trading Down 11.1% – Should You Sell?

Orcadian Energy Plc (LON:ORCA)’s stock price dropped 11.1% during mid-day trading on Tuesday . The stock traded as low as GBX 16 and last traded at GBX 16. Approximately 22,617 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 190,453 shares. The stock had previously closed at GBX 18.

Orcadian Energy Stock Down 11.1%

The firm’s fifty day moving average price is GBX 15.88 and its 200-day moving average price is GBX 12.64. 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 has a market cap of £12.64 million, a price-to-earnings ratio of -14.29 and a beta of -2.29.

Orcadian Energy (LON:ORCA) last announced its quarterly earnings results on Friday, January 2nd. The company reported GBX (1.12) earnings per share (EPS) for the quarter. Orcadian Energy had a negative return on equity of 49.59% and a negative net margin of 925.42%.

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. 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.