Eco Atlantic Oil & Gas (CVE:EOG) Stock Price Up 16.7% - Time to Buy?

Key Points

• Eco Atlantic's stock jumped 16.7% on Monday to C$1.19 (intraday high C$1.20) from a C$1.02 close, on ~175,820 shares traded—about 56% below its average daily volume.
• The shares trade above their moving averages (50-day C$0.86, 200-day C$0.49) with a market capitalization of C$408.09 million, but the company has a negative P/E (-393.33) and a very low beta (0.01).
• Eco Atlantic is a development-stage oil & gas explorer holding working interests in the Orinduik block (Suriname/Guyana), a 25% interest in Namibia’s Cooper block, and four offshore Namibian licenses totaling ~25,000 km².

Eco Atlantic Oil & Gas Ltd (CVE:EOG - )'s stock price rose 16.7% during trading on Monday . The company traded as high as C$1.20 and last traded at C$1.19. Approximately 175,820 shares traded hands during trading, a decline of 56% from the average daily volume of 398,665 shares. The stock had previously closed at C$1.02.

Eco Atlantic Oil & Gas Stock Up 15.7%

The stock has a fifty day simple moving average of C$0.86 and a 200 day simple moving average of C$0.49. The firm has a market capitalization of C$408.09 million, a P/E ratio of -393.33 and a beta of 0.01.

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.

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