CGX Energy (CVE:OYL) Shares Down 32.3% – Should You Sell?

CGX Energy Inc. (CVE:OYL)’s stock price traded down 32.3% on Wednesday . The stock traded as low as C$0.11 and last traded at C$0.11. 575,562 shares traded hands 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 company has a debt-to-equity ratio of 78.75, a current ratio of 0.25 and a quick ratio of 0.10. The company has a market capitalization of C$35.55 million, a P/E ratio of -10.50 and a beta of 1.33. The business has a 50-day moving average of C$0.15 and a 200-day moving average of C$0.17.

About CGX Energy

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.