CGX Energy (CVE:OYL) Shares Down 32.3% – Here’s Why

CGX Energy Inc. (CVE:OYL)’s share price fell 32.3% on Tuesday . The company traded as low as C$0.11 and last traded at C$0.11. 575,562 shares were traded during trading, an increase of 1,055% from the average session volume of 49,825 shares. The stock had previously closed at C$0.16.

CGX Energy Stock Performance

The firm has a market cap of C$35.55 million, a price-to-earnings ratio of -10.50 and a beta of 1.33. The firm’s 50 day moving average is C$0.15 and its 200-day moving average is C$0.17. The company has a debt-to-equity ratio of 78.75, a quick ratio of 0.10 and a current ratio of 0.25.

CGX Energy Company Profile

CGX Energy Inc, an oil and gas exploration company, explores for and evaluates petroleum and natural gas properties in Guyana, South America. It holds interests in a petroleum prospecting licenses and related petroleum agreements on Corentyne block in the Guyana Basin, offshore Guyana. The company also constructs and develops the Berbice Deep Water Port project in Guyana.