Setting A New 52 Week Low, Zion Oil & Gas, Inc. (Nasdaq:ZN) Ending The Day At $0.35

Zion Oil & Gas, Inc. (Nasdaq:ZN)

May 24th, 2019

Zion Oil & Gas, Inc. finished Friday’s trading session down 7.23%, a ($0.03) decrease to close on $0.35. As well as the drop in value, Zion Oil & Gas, Inc. hit a new 52 week low of $0.33. Zion Oil & Gas, Inc. swung 15.15% between high and low. Two technical ‘scores’ for companies to be aware 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 -31.86, and the Piotroski Score is 2). Despite the drop in value, trading volumes were solid at 257.00% of normal which can indicate investor opportunities.

ZN was outperformed by the rest of the Energy sector which went up 0.15%.

Market Sectors

The market sectors were mixed Friday with a majority of the sectors trending up. Financials saw the biggest increase of the day (0.77%), while the Consumer Staples sector saw the biggest drop (-0.40%). Information Technology has seen the biggest year-to-date gain of 17.86%.

Financials saw the biggest turn-around compared to its 5-day performance (-1.60%), as it went up by 0.77%. Utilities saw a turn-around from its 5-day performance of 2.37% trading down -0.21%.

Sector Breakdown

  • Financials, up 0.77%.
  • Materials, up 0.50%.
  • Real Estate, up 0.15%.
  • Energy, up 0.15%.
  • Consumer Discretionary, up 0.14%.
  • Healthcare, up 0.12%.
  • Industrials, up 0.05%.
  • Information Technology, up 0.05%.
  • Communication Services, up 0.01%.
  • Utilities, down -0.21%.
  • Consumer Staples, down -0.40%.

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 -31.86) 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.

ZN daily update
ZN daily update

Via UnSplash

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