Shares of New Zealand Energy Corp. (CVE:NZ – Get Free Report) dropped 23.9% during mid-day trading on Wednesday . The stock traded as low as C$0.26 and last traded at C$0.27. Approximately 111,150 shares traded hands during trading, an increase of 336% from the average daily volume of 25,473 shares. The stock had previously closed at C$0.36.
New Zealand Energy Stock Performance
The company has a quick ratio of 0.45, a current ratio of 3.36 and a debt-to-equity ratio of 41.83. The stock has a market capitalization of C$10.36 million, a price-to-earnings ratio of -0.47 and a beta of 4.58. The stock’s 50-day simple moving average is C$0.31 and its 200 day simple moving average is C$0.28.
About New Zealand Energy
New Zealand Energy Corp., together with its subsidiaries, engages in the exploration and production of oil and natural gas in New Zealand. It holds interests in three petroleum mining licenses, one petroleum mining permit, and one petroleum exploration permit. The company has interests in TWN Petroleum Mining Licenses comprising Waihapa/Ngaere, and Tariki; Copper Moki petroleum mining permit; and Eltham Petroleum exploration permit.
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