Block Energy (LON:BLOE) Trading Up 20.6% – Should You Buy?

Block Energy Plc (LON:BLOE)’s share price rose 20.6% during mid-day trading on Monday . The company traded as high as GBX 1 ($0.01) and last traded at GBX 1 ($0.01). Approximately 751,005 shares were traded during trading, a decline of 58% from the average daily volume of 1,787,877 shares. The stock had previously closed at GBX 0.83 ($0.01).

Block Energy Stock Performance

The company has a market capitalization of £9.18 million, a price-to-earnings ratio of -7.09 and a beta of 0.27. The company has a current ratio of 3.26, a quick ratio of 0.71 and a debt-to-equity ratio of 7.70. The stock’s fifty day simple moving average is GBX 0.78 and its 200-day simple moving average is GBX 0.80.

About Block Energy

Block Energy is an AIM-listed independent oil and gas Company with current oil and gas production and material production and cashflow led growth opportunities from fields in Georgia.

Led by a management team with unrivalled experience in the Caucasus, Block’s aim is to deliver near and medium-term cashflows for reinvestment into medium and longer-term high impact opportunities, though a four-project strategy.