Orcadian Energy (LON:ORCA) Shares Up 9.3% – Time to Buy?

Orcadian Energy Plc (LON:ORCA) was up 9.3% during mid-day trading on Monday . The stock traded as high as GBX 10.50 ($0.13) and last traded at GBX 9.84 ($0.12). Approximately 265,725 shares traded hands during trading, an increase of 417% from the average daily volume of 51,425 shares. The stock had previously closed at GBX 9 ($0.11).

Orcadian Energy Price Performance

The company has a current ratio of 0.10, a quick ratio of 3.06 and a debt-to-equity ratio of 47.53. The firm has a market cap of £7.74 million, a price-to-earnings ratio of -5.70 and a beta of -2.29. The company’s 50-day moving average is GBX 9.55 and its 200-day moving average is GBX 8.22.

Orcadian Energy (LON:ORCA) last issued its earnings results on Monday, December 16th. The company reported GBX (1.26) (($0.02)) earnings per share for the quarter. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 49.59%.

About Orcadian Energy

Orcadian’s strategy is to secure discovered resources at low cost and to transform those resources into reserves and onto production

The Pilot field is our key asset. The field is well appraised and ready for development, Orcadian has selected, as the very best development concept, a low salinity polymer flood with two wellhead platforms, a dedicated FPSO, and a floating wind turbine.

Pilot is very well appraised with high quality modern 3D seismic and seven reservoir penetrations.