Pharos Energy (LON:PHAR) Shares Down 2.1% – Here’s Why

Pharos Energy plc (LON:PHAR)’s stock price was down 2.1% on Tuesday . The stock traded as low as GBX 23.50 ($0.30) and last traded at GBX 23.60 ($0.30). Approximately 217,454 shares were traded during trading, a decline of 49% from the average daily volume of 427,331 shares. The stock had previously closed at GBX 24.10 ($0.30).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated a “house stock” rating on shares of Pharos Energy in a research note on Thursday, January 23rd.

Pharos Energy Stock Performance

The company’s 50 day simple moving average is GBX 24.52 and its 200 day simple moving average is GBX 23.99. The stock has a market cap of £122.45 million, a PE ratio of -2.61, a price-to-earnings-growth ratio of -0.02 and a beta of 1.61. The company has a debt-to-equity ratio of 14.99, a quick ratio of 1.72 and a current ratio of 2.02.

Insider Activity at Pharos Energy

In related news, insider Sue Rivett sold 199,212 shares of Pharos Energy stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of GBX 24 ($0.30), for a total value of £47,810.88 ($60,313.96). Also, insider Katherine Roe acquired 6,348 shares of Pharos Energy stock in a transaction on Wednesday, November 27th. The shares were purchased at an average cost of GBX 23 ($0.29) per share, with a total value of £1,460.04 ($1,841.86). Over the last three months, insiders acquired 14,269 shares of company stock valued at $343,704. 51.33% of the stock is owned by insiders.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.