88 Energy (LON:88E) Stock Price Down 4.1% – Here’s Why

88 Energy Limited (LON:88E)’s share price dropped 4.1% during mid-day trading on Wednesday . The stock traded as low as GBX 1.15 and last traded at GBX 1.15. 1,139,765 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 1,743,078 shares. The stock had previously closed at GBX 1.20.

88 Energy Stock Up 1.7%

The stock’s 50-day moving average is GBX 1.30 and its 200-day moving average is GBX 1.26. The firm has a market cap of £14.89 million, a P/E ratio of -0.24 and a beta of 0.88.

About 88 Energy

88 Energy is a multi-listed (ASX:88E,AIM:88E, OTC:EEENF) oil and gas exploration and production company with a North American focus.

88E has operator exploration interests in onshore Alaska and non-operator production interests in onshore Texas. The Company has been operating on the North Slope of Alaska since 2015, successfully drilling multiple exploration wells and acquiring extensive seismic data across a large acreage position.