Orcadian Energy (LON:ORCA) Trading Down 10.5% – Should You Sell?

Shares of Orcadian Energy Plc (LON:ORCA) dropped 10.5% on Wednesday . The stock traded as low as GBX 17 and last traded at GBX 17. Approximately 196,383 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 210,008 shares. The stock had previously closed at GBX 19.

Orcadian Energy Stock Performance

The company has a debt-to-equity ratio of 47.53, a quick ratio of 3.06 and a current ratio of 0.10. The company’s 50 day moving average price is GBX 15.25 and its 200-day moving average price is GBX 12.19. The company has a market cap of £13.43 million, a PE ratio of -15.18 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 (EPS) for the quarter. Orcadian Energy had a negative return on equity of 49.59% and a negative net margin of 925.42%.

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.