Oracle Power (LON:ORCP) Trading 12.2% Higher – Still a Buy?

Oracle Power plc (LON:ORCP) shares shot up 12.2% during mid-day trading on Saturday . The stock traded as high as GBX 0.06 and last traded at GBX 0.05. 749,263,000 shares changed hands during mid-day trading, an increase of 220% from the average session volume of 234,307,891 shares. The stock had previously closed at GBX 0.04.

Oracle Power Stock Performance

The company has a current ratio of 3.74, a quick ratio of 5.67 and a debt-to-equity ratio of 9.98. The company has a market cap of £7.23 million, a P/E ratio of -23.00 and a beta of 1.44. The company has a 50 day moving average price of GBX 0.03 and a 200-day moving average price of GBX 0.02.

About Oracle Power

Oracle Power Plc (AIM: ORCP) is an international project developer in the natural resources and energy sectors. The Company is currently committed to two areas of focus: Western Australia, home to two of Oracle’s highly prospective gold projects, and Pakistan, where it is working to establish one of the largest hydrogen production facilities in the region.
Located in the wind corridor in Jhimpir, Pakistan, The Green Hydrogen project is being developed on a fast-track basis thanks to the joint venture (JV) formed between Oracle and His Highness Shaikh Ahmed Dalmook Al Maktoum (through his wholly owned company, Kaheel Energy Limited).
The JV intends to support the global transition to a carbon neutral future through establishing Pakistan as one of the main Green Hydrogen players in the region, to meet global demand for clean hydrogen forecasted to be 660 million metric tons in 2050.