Arrow Exploration (LON:AXL) Cut to “Speculative Buy” at Canaccord Genuity Group

Canaccord Genuity Group cut shares of Arrow Exploration (LON:AXL) to a speculative buy rating in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has GBX 25 target price on the stock, down from their previous target price of GBX 27.

Arrow Exploration Trading Down 8.2%

Shares of AXL opened at GBX 11.39 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 0.44. Arrow Exploration has a 12-month low of GBX 10.65 and a 12-month high of GBX 29.50. The firm has a 50-day moving average price of GBX 13.81 and a 200 day moving average price of GBX 16.06. The firm has a market capitalization of £32.55 million, a P/E ratio of 284.70 and a beta of 1.51.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin.