Eco Atlantic Oil & Gas (CVE:EOG) Shares Up 54.1% – Time to Buy?

Eco Atlantic Oil & Gas Ltd (CVE:EOG) shares shot up 54.1% during mid-day trading on Monday . The stock traded as high as C$0.30 and last traded at C$0.29. 3,223,930 shares changed hands during mid-day trading, an increase of 2,250% from the average session volume of 137,181 shares. The stock had previously closed at C$0.19.

Eco Atlantic Oil & Gas Trading Up 51.4%

The stock’s 50 day moving average is C$0.14 and its 200-day moving average is C$0.16. The company has a market cap of C$88.26 million, a P/E ratio of -31.11 and a beta of 1.07.

Eco Atlantic Oil & Gas (CVE:EOG) last issued its earnings results on Wednesday, November 19th. The company reported C$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%. During the same period in the previous year, the firm earned $0.00 earnings per share. As a group, sell-side analysts forecast that Eco Atlantic Oil & Gas Ltd will post -0.01 EPS for the current year.

About Eco Atlantic Oil & Gas

Eco (Atlantic) Oil & Gas Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of petroleum, natural gas, and shale gas properties. The company holds a working interest in the Orinduik block in the Suriname Guyana basin, the Co-Operative Republic of Guyana; a 25% working interest in the Cooper block covering 1,100 kilometers located in Namibia; and interests in four offshore petroleum licenses totaling approximately 25,000 square kilometers located in the Republic of Namibia.