Mercantile Ports & Logistics (LON:MPL) Shares Down 10.6% – Here’s What Happened

Mercantile Ports & Logistics Limited (LON:MPL)’s stock price fell 10.6% on Wednesday. The company traded as low as GBX 1.24 and last traded at GBX 1.25. 2,309,657 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 9,755,551 shares. The stock had previously closed at GBX 1.40.

Mercantile Ports & Logistics Price Performance

The company’s 50 day simple moving average is GBX 1.50 and its 200 day simple moving average is GBX 1.24. The company has a debt-to-equity ratio of 77.03, a current ratio of 1.01 and a quick ratio of 0.38. The stock has a market cap of £5.99 million, a P/E ratio of -0.21 and a beta of 0.41.

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

Mercantile Ports & Logistics Company Profile

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.