New Zealand Energy (CVE:NZ) Trading Down 21.1% – What’s Next?

New Zealand Energy Corp. (CVE:NZ) shares fell 21.1% during mid-day trading on Wednesday . The company traded as low as C$0.35 and last traded at C$0.36. 186,715 shares changed hands during trading, an increase of 653% from the average session volume of 24,786 shares. The stock had previously closed at C$0.45.

New Zealand Energy Stock Performance

The company has a current ratio of 3.36, a quick ratio of 0.45 and a debt-to-equity ratio of 41.83. The stock has a market cap of C$10.36 million, a price-to-earnings ratio of -0.47 and a beta of 4.58. The stock’s 50 day moving average is C$0.31 and its two-hundred day moving average is C$0.28.

New Zealand Energy Company Profile

New Zealand Energy Corp., together with its subsidiaries, engages in the exploration and production of oil and natural gas in New Zealand. It holds interests in three petroleum mining licenses, one petroleum mining permit, and one petroleum exploration permit. The company has interests in TWN Petroleum Mining Licenses comprising Waihapa/Ngaere, and Tariki; Copper Moki petroleum mining permit; and Eltham Petroleum exploration permit.