Block Energy (LON:BLOE) Trading 4.7% Higher – Here’s What Happened

Block Energy Plc (LON:BLOE) shot up 4.7% on Friday . The company traded as high as GBX 0.84 ($0.01) and last traded at GBX 0.84 ($0.01). 6,340,960 shares traded hands during trading, an increase of 283% from the average session volume of 1,654,754 shares. The stock had previously closed at GBX 0.80 ($0.01).

Block Energy Stock Up 17.1 %

The stock has a market cap of £8.87 million, a P/E ratio of -6.85 and a beta of 0.27. The firm has a 50 day simple moving average of GBX 0.72 and a 200-day simple moving average of GBX 0.82. The company has a quick ratio of 0.71, a current ratio of 3.26 and a debt-to-equity ratio of 7.70.

Block Energy Company Profile

Block Energy is an AIM-listed independent oil and gas Company with current oil and gas production and material production and cashflow led growth opportunities from fields in Georgia.

Led by a management team with unrivalled experience in the Caucasus, Block’s aim is to deliver near and medium-term cashflows for reinvestment into medium and longer-term high impact opportunities, though a four-project strategy.