Petrel Resources (LON:PET) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Shares of Petrel Resources Plc (LON:PET) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1.11 ($0.01) and traded as low as GBX 0.81 ($0.01). Petrel Resources shares last traded at GBX 0.81 ($0.01), with a volume of 122,498 shares traded.

Petrel Resources Stock Performance

The stock has a market cap of £1.88 million, a P/E ratio of -3.92 and a beta of 0.57. The firm has a 50-day moving average price of GBX 0.98 and a 200-day moving average price of GBX 1.11.

Petrel Resources Company Profile

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.