Chariot (LON:CHAR) Shares Down 7.5% – Here’s Why

Chariot Limited (LON:CHAR)’s share price traded down 7.5% during mid-day trading on Friday . The company traded as low as GBX 2.30 ($0.03) and last traded at GBX 2.41 ($0.03). 7,627,171 shares traded hands during trading, a decline of 7% from the average session volume of 8,200,769 shares. The stock had previously closed at GBX 2.60 ($0.03).

Chariot Stock Performance

The stock has a 50-day moving average price of GBX 3.33 and a 200 day moving average price of GBX 6.23. The company has a quick ratio of 3.74, a current ratio of 1.00 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of £28.34 million, a price-to-earnings ratio of -120.10 and a beta of 0.48.

Insiders Place Their Bets

In related news, insider George F. Canjar bought 595,379 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of GBX 7 ($0.09) per share, with a total value of £41,676.53 ($54,048.15). 17.54% of the stock is owned by company insiders.

About Chariot

Chariot Limited, together with its subsidiaries, engages in the oil and gas exploration and appraisal activities. The company operates through Transactional Gas, Transactional Power, and Green Hydrogen segments. It holds interests in the Rissana offshore license that covers an area of approximately 8,489 square kilometers.