Zion Oil & Gas (NASDAQ:ZN) Trading Down 9.7%

Zion Oil & Gas, Inc. (NASDAQ:ZN)’s stock price fell 9.7% on Friday . The company traded as low as $0.22 and last traded at $0.28, 2,278,000 shares were traded during mid-day trading. An increase of 239% from the average session volume of 671,490 shares. The stock had previously closed at $0.31.

The stock has a 50 day simple moving average of $0.32 and a 200-day simple moving average of $0.48. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.37 and a current ratio of 2.37.

Zion Oil & Gas (NASDAQ:ZN) last released its quarterly earnings results on Wednesday, August 7th. The oil and gas producer reported ($0.02) earnings per share (EPS) for the quarter.

Institutional investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co bought a new stake in shares of Zion Oil & Gas during the 2nd quarter valued at about $79,000. Morgan Stanley grew its stake in shares of Zion Oil & Gas by 22.9% during the 2nd quarter. Morgan Stanley now owns 302,401 shares of the oil and gas producer’s stock valued at $101,000 after purchasing an additional 56,403 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Zion Oil & Gas by 18.5% during the 4th quarter. Geode Capital Management LLC now owns 647,448 shares of the oil and gas producer’s stock valued at $270,000 after purchasing an additional 100,863 shares during the period. Institutional investors and hedge funds own 8.99% of the company’s stock.

About Zion Oil & Gas (NASDAQ:ZN)

Zion Oil & Gas, Inc operates as an oil and gas exploration company in Israel. It holds a petroleum exploration license onshore Israel, the Megiddo-Jezreel License that covers an area of approximately 99,000 acres. The company was founded in 2000 and is based in Dallas, Texas.

Further Reading: What is the return on assets (ROA) ratio?

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