CGX Energy (CVE:OYL) Stock Price Down 32.3% – Here’s Why

CGX Energy Inc. (CVE:OYL)’s stock price dropped 32.3% during mid-day trading on Wednesday . The company traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares were traded during mid-day trading, an increase of 1,055% from the average daily volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Stock Down 32.3 %

The firm has a 50 day simple moving average of C$0.15 and a two-hundred day simple moving average of C$0.17. The stock has a market capitalization of C$35.55 million, a P/E ratio of -10.50 and a beta of 1.33. The company has a quick ratio of 0.10, a current ratio of 0.25 and a debt-to-equity ratio of 78.75.

CGX Energy Company Profile

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana.