Orcadian Energy (LON:ORCA) Trading Down 10.5% – Here’s Why

Orcadian Energy Plc (LON:ORCA) shares traded down 10.5% during trading on Wednesday . The stock traded as low as GBX 17 and last traded at GBX 17. 196,383 shares traded hands during trading, a decline of 6% from the average session volume of 210,008 shares. The stock had previously closed at GBX 19.

Orcadian Energy Price Performance

The business’s 50 day simple moving average is GBX 15.25 and its 200-day simple moving average is GBX 12.19. The stock has a market capitalization of £13.43 million, a price-to-earnings ratio of -15.18 and a beta of -2.29. The company has a quick ratio of 3.06, a current ratio of 0.10 and a debt-to-equity ratio of 47.53.

Orcadian Energy (LON:ORCA) last released its earnings results on Friday, January 2nd. The company reported GBX (1.12) earnings per share (EPS) for the quarter. Orcadian Energy had a negative net margin of 925.42% and a negative return on equity of 49.59%.

Orcadian Energy Company Profile

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. The field has 79mmbbls of proven plus probable reserves, based upon the low salinity polymer flood development plan described in the concept select report submitted to the OGA in September of 2020.