Zion Oil & Gas, Inc. (Nasdaq:ZN)
May 23rd, 2019
Amidst falling markets Zion Oil & Gas, Inc. finished Thursday’s trading session down 8.22%, a ($0.03) decrease to close on $0.38. Sadly, in addition to dropping ZN ended up closing the day at a new 52 week low.As well as the drop in value, Zion Oil & Gas, Inc. hit a new 52 week low of $0.38. Two technical ‘scores’ for stocks to be wary of are the Altman Z1 and the Piotroski2 scores. ZN scored quite low for both, which could be indicators of trouble down the road (the Altman Z-Score is -31.44, and the Piotroski Score is 2).
ZN was outperformed by the rest of the Energy sector which went down just -3.13%.
The market sectors were mixed Thursday with a majority of the sectors trending down. Utilities saw the biggest increase of the day (0.82%), while the Energy sector saw the biggest drop (-3.13%). Information Technology has seen the biggest year-to-date gain of 19.19%.
Real Estate saw the biggest turn-around compared to its 5-day performance (-0.28%), as it went up by 0.51%. Energy and Information Technology both saw turn-arounds from their five day positive performances with Energy dropping -3.13%.
- Utilities, up 0.82%.
- Real Estate, up 0.51%.
- Consumer Staples, down -0.07%.
- Healthcare, down -0.37%.
- Communication Services, down -1.26%.
- Consumer Discretionary, down -1.34%.
- Financials, down -1.49%.
- Materials, down -1.53%.
- Industrials, down -1.59%.
- Information Technology, down -1.73%.
- Energy, down -3.13%.
Zion Oil & Gas, Inc. Info
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 headquartered in Dallas, Texas.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Zion Oil & Gas, Inc.’s score is -31.44) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
(2) The Piotrosky score is used to determine the best value stocks with nine being the best and zero being the worst. It is based on specific aspects of the company’s financial statements, such as positive net income, operating cash flow and asset turnover ratio. A score 0 0 is the worst (Zion Oil & Gas, Inc.’s score is 2), and 9 is the best.
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