CGX Energy (CVE:OYL) Stock Price Down 32.3% – Time to Sell?

CGX Energy Inc. (CVE:OYL)’s share price was down 32.3% during mid-day trading on Tuesday . The company traded as low as C$0.11 and last traded at C$0.11. Approximately 575,562 shares changed hands during mid-day trading, an increase of 1,132% from the average daily volume of 46,720 shares. The stock had previously closed at C$0.16.

CGX Energy Price Performance

The company has a debt-to-equity ratio of 78.75, a current ratio of 0.25 and a quick ratio of 0.10. The firm has a market cap of C$35.55 million, a P/E 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.

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.