Mercantile Ports & Logistics (LON:MPL) Stock Price Up 20% – Still a Buy?

Mercantile Ports & Logistics Limited (LON:MPL)’s share price rose 20% during mid-day trading on Wednesday . The company traded as high as GBX 0.60 and last traded at GBX 0.60. Approximately 43,665 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 370,191 shares. The stock had previously closed at GBX 0.50.

Mercantile Ports & Logistics Stock Performance

The company has a debt-to-equity ratio of 77.03, a current ratio of 1.01 and a quick ratio of 0.38. The company has a fifty day moving average of GBX 0.88 and a two-hundred day moving average of GBX 1.08. The stock has a market capitalization of £2.14 million, a P/E ratio of -0.07 and a beta of 0.41.

Mercantile Ports & Logistics (LON:MPL) last released its quarterly earnings results on Tuesday, September 30th. The company reported GBX (0.05) earnings per share for the quarter.

About Mercantile Ports & Logistics

The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.
The terminal will be designed to handle vessels of up to 4000 DWT having a draft of up to 5 meters, with the potential to handle vessels up to 10 meter draft at a later stage.

Logistics Facility

Karanja Terminal will also house an ultra-modern logistics complex spread over approximately 100 acres of land.