Orcadian Energy (LON:ORCA) Shares Down 13.3% – Time to Sell?

Orcadian Energy Plc (LON:ORCA)’s share price was down 13.3% on Wednesday . The stock traded as low as GBX 13 and last traded at GBX 13. Approximately 252,221 shares changed hands during mid-day trading, an increase of 162% from the average daily volume of 96,239 shares. The stock had previously closed at GBX 15.

Orcadian Energy Trading Down 16.0%

The company has a quick ratio of 3.06, a current ratio of 0.10 and a debt-to-equity ratio of 47.53. The business has a 50-day simple moving average of GBX 11.73 and a 200-day simple moving average of GBX 10.48. The company has a market cap of £9.95 million, a PE ratio of -10.50 and a beta of -2.29.

About Orcadian Energy

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.