Orcadian Energy (LON:ORCA) Hits New 52-Week High – What’s Next?

Shares of Orcadian Energy Plc (LON:ORCA) hit a new 52-week high on Monday . The stock traded as high as GBX 20 and last traded at GBX 19.80, with a volume of 357860 shares changing hands. The stock had previously closed at GBX 17.50.

Orcadian Energy Trading Up 13.1%

The company has a quick ratio of 3.06, a current ratio of 0.10 and a debt-to-equity ratio of 47.53. The company’s 50-day moving average is GBX 14.12 and its 200-day moving average is GBX 11.40. The stock has a market capitalization of £15.64 million, a price-to-earnings ratio of -17.68 and a beta of -2.29.

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

About Orcadian Energy

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.