Ocean Grown Abalone (ASX:OGA) Shares Down 100%

Ocean Grown Abalone (ASX:OGA) fell 100% during trading on Tuesday . The company traded as low as A$0.07 ($0.05) and last traded at A$0.07 ($0.05), 18,000 shares traded hands during trading. The stock had previously closed at A$131,484.00 ($93,251.06).

The firm has a market cap of $15.06 million and a price-to-earnings ratio of -75.00. The company has a debt-to-equity ratio of 4.22, a current ratio of 10.07 and a quick ratio of 4.96. The stock has a 50-day moving average of A$0.11.

In other news, insider Bradley (Brad) Adams sold 500,000 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of A$0.14 ($0.10), for a total transaction of A$68,500.00 ($48,581.56).

About Ocean Grown Abalone (ASX:OGA)

Ocean Grown Abalone Limited owns and operates an abalone sea ranching business in Australia. It develops its sea ranching hardware design and processes for near-shore aquaculture. The company produces wild, ocean grown, and green lip abalones. The company offers its products under the Two Oceans Abalone brand name.

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