Zephyr Energy (LON:ZPHR) Shares Up 8.4% – Here’s Why

Zephyr Energy plc (LON:ZPHR) shares rose 8.4% on Wednesday . The company traded as high as GBX 2.44 and last traded at GBX 2.44. Approximately 724,080 shares were traded during trading, a decline of 83% from the average daily volume of 4,355,293 shares. The stock had previously closed at GBX 2.25.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZPHR. Liberum Capital increased their price target on Zephyr Energy from GBX 10.30 to GBX 11.20 and gave the stock a “buy” rating in a research note on Friday, October 10th. Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 11 price objective on shares of Zephyr Energy in a research note on Tuesday, September 30th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 11.73.

Zephyr Energy Stock Performance

The company has a market capitalization of £50.84 million, a P/E ratio of -1.43 and a beta of 0.77. The company has a debt-to-equity ratio of 42.73, a quick ratio of 0.87 and a current ratio of 0.45. The business’s fifty day simple moving average is GBX 2.85 and its 200-day simple moving average is GBX 3.23.

About Zephyr Energy

Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF) is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The Company’s mission is rooted in two core values: to be responsible stewards of its investors’ capital, and to be responsible stewards of the environment in which it works.

Zephyr’s flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent (“mmboe”), 2C resources of 34 mmboe and 2U resources 270 mmboe.

In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana.