CGX Energy (CVE:OYL) Trading Down 32.3% – Time to Sell?

CGX Energy Inc. (CVE:OYL) dropped 32.3% during mid-day trading on Wednesday . The stock traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares changed hands during 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 Trading Down 32.3 %

The company has a market cap of C$35.55 million, a P/E ratio of -10.50 and a beta of 1.33. The business has a fifty day simple moving average of C$0.15 and a 200 day simple moving average of C$0.17. The company has a debt-to-equity ratio of 78.75, a quick ratio of 0.10 and a current ratio of 0.25.

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.