New Zealand Energy (CVE:NZ) Shares Down 53.8% – Here’s Why

New Zealand Energy Corp. (CVE:NZ)’s share price fell 53.8% during mid-day trading on Thursday . The company traded as low as C$0.42 and last traded at C$0.42. 135,450 shares changed hands during mid-day trading, an increase of 1,388% from the average session volume of 9,100 shares. The stock had previously closed at C$0.91.

New Zealand Energy Trading Down 47.3 %

The company has a debt-to-equity ratio of 41.83, a current ratio of 3.36 and a quick ratio of 0.45. The stock has a market cap of C$7.20 million, a P/E ratio of -3.96 and a beta of 2.71. The firm’s fifty day moving average price is C$0.90 and its two-hundred day moving average price is C$0.86.

New Zealand Energy (CVE:NZ) last posted its quarterly earnings data on Wednesday, August 28th. The company reported C($0.08) earnings per share for the quarter. New Zealand Energy had a negative return on equity of 72.10% and a negative net margin of 229.86%. The company had revenue of C$0.30 million during the quarter. As a group, equities research analysts forecast that New Zealand Energy Corp. will post 0.9340659 EPS for the current year.

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.