Meren Energy (OTCMKTS:AOIFF) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Meren Energy's stock price has fallen below its 200-day moving average of $1.31, currently trading at $1.29.
• The company reported earnings per share (EPS) of $0.02 for the last quarter, exceeding estimates of $0.01, with revenues significantly higher than expected at $74.09 million.
• Meren Energy holds key interests in oil and gas production across multiple countries including Kenya, Nigeria, and South Africa.

Meren Energy Inc. (OTCMKTS:AOIFF - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.31 and traded as low as $1.28. Meren Energy shares last traded at $1.29, with a volume of 50,622 shares changing hands.

Meren Energy Stock Down 1.2%

The company has a fifty day simple moving average of $1.27 and a 200-day simple moving average of $1.31. The company has a quick ratio of 1.16, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The firm has a market cap of $868.03 million, a P/E ratio of -2.47 and a beta of 0.57.

Meren Energy (OTCMKTS:AOIFF - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The energy company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The company had revenue of $74.09 million for the quarter, compared to the consensus estimate of $10.00 million. On average, equities analysts anticipate that Meren Energy Inc. will post 0.18 earnings per share for the current year.

Meren Energy Company Profile

Africa Oil Corp., together with its subsidiaries, operates as an oil and gas exploration and production company in Kenya, Nigeria, and South Africa. The company holds interests in producing and development assets in deep-water Nigeria, and development assets in Kenya. It also has a portfolio of exploration and appraisal assets in Namibia, Nigeria, South Africa, and Kenya, as well as Guyana and Senegal Guinea Bissau Joint Development Zone.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.