Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Down 10.5% – Here’s Why

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) shares dropped 10.5% on Wednesday . The company traded as low as GBX 7.70 ($0.10) and last traded at GBX 8.10 ($0.10). Approximately 2,514,301 shares were traded during trading, an increase of 319% from the average daily volume of 599,420 shares. The stock had previously closed at GBX 9.05 ($0.12).

Eco (Atlantic) Oil & Gas Price Performance

The stock has a market capitalization of £31.98 million, a P/E ratio of -1.68 and a beta of 1.95. The company’s 50-day simple moving average is GBX 10.74 and its 200-day simple moving average is GBX 10.81.

Eco (Atlantic) Oil & Gas (LON:ECO) last issued its earnings results on Thursday, February 27th. The company reported GBX (0.20) ($0.00) earnings per share (EPS) for the quarter. Eco (Atlantic) Oil & Gas had a negative net margin of 296,358.74% and a negative return on equity of 66.40%.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.