Helium One Global (LON:HE1) Shares Down 15% – Time to Sell?

Helium One Global Ltd (LON:HE1) shares were down 15% during mid-day trading on Tuesday . The company traded as low as GBX 0.65 and last traded at GBX 0.68. Approximately 253,908,125 shares were traded during mid-day trading, an increase of 166% from the average daily volume of 95,306,813 shares. The stock had previously closed at GBX 0.80.

Helium One Global Stock Performance

The stock’s 50 day simple moving average is GBX 0.46 and its 200 day simple moving average is GBX 0.44. The firm has a market cap of £55.51 million, a P/E ratio of -6.15 and a beta of 0.12.

Helium One Global Company Profile

Helium One Global, the AIM-listed Tanzanian explorer, holds prospecting licences across three distinct project areas, with the potential to become a strategic player in resolving a supply-constrained helium market.

The Rukwa, Balangida, and Eyasi projects are located within rift basins on the margin of the Tanzanian Craton in the north and southwest of the country. The assets lie near surface seeps with helium concentrations ranging up to 10.6% helium by volume. All Helium One’s licences are held on a 100% equity basis.

The Company’s flagship Rukwa Project is located within the Rukwa Rift Basin covering 1,900km2 in south-west Tanzania.