Mercantile Ports & Logistics (LON:MPL) Stock Price Up 18.2% – Here’s Why

Mercantile Ports & Logistics Limited (LON:MPL)’s stock price shot up 18.2% on Tuesday . The company traded as high as GBX 1.70 and last traded at GBX 1.69. 8,201,002 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 10,380,197 shares. The stock had previously closed at GBX 1.43.

Mercantile Ports & Logistics Stock Up 18.2%

The company has a market capitalization of £6.00 million, a price-to-earnings ratio of -0.21 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 1.01 and a debt-to-equity ratio of 77.03. The firm has a 50 day moving average price of GBX 1.46 and a two-hundred day moving average price of GBX 0.97.

Mercantile Ports & Logistics (LON:MPL) last released its quarterly earnings results on Tuesday, June 30th. The company reported GBX (0.08) EPS for the quarter.

About Mercantile Ports & Logistics

The company is currently implementing its maiden project of developing a modern port and logistics facility at Karanja Creek in the Raigad District of Maharashtra. The facility will be developed over 200 acres of land with a sea frontage of appx 1,000 meters.
The terminal will be designed to handle vessels of up to 4000 DWT having a draft of up to 5 meters, with the potential to handle vessels up to 10 meter draft at a later stage.

Logistics Facility

Karanja Terminal will also house an ultra-modern logistics complex spread over approximately 100 acres of land.