Pantheon Resources (LON:PANR) Stock Price Down 36% – What’s Next?

Pantheon Resources Plc (LON:PANR)’s share price fell 36% during trading on Monday . The company traded as low as GBX 22.62 ($0.30) and last traded at GBX 27.13 ($0.36). 40,380,520 shares changed hands during mid-day trading, an increase of 402% from the average session volume of 8,038,307 shares. The stock had previously closed at GBX 42.40 ($0.57).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 74 ($0.99) target price on shares of Pantheon Resources in a report on Monday.

Pantheon Resources Price Performance

The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The stock has a market capitalization of £309.31 million, a P/E ratio of -20.20 and a beta of -0.36. The stock has a 50 day moving average of GBX 47.66 and a 200-day moving average of GBX 42.65.

Insider Buying and Selling

In other Pantheon Resources news, insider Linda Havard purchased 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The stock was purchased at an average cost of GBX 70 ($0.94) per share, with a total value of £14,700 ($19,686.62). 10.15% of the stock is owned by corporate insiders.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope (“ANS”), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska’s Trans Alaska Pipeline System (“TAPS”).

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.