Rockhopper Exploration (LON:RKH) Shares Down 8% – Here’s What Happened

Rockhopper Exploration plc (LON:RKH) was down 8% during mid-day trading on Friday . The company traded as low as GBX 35 ($0.44) and last traded at GBX 35.70 ($0.45). Approximately 6,318,684 shares were traded during trading, a decline of 7% from the average daily volume of 6,804,535 shares. The stock had previously closed at GBX 38.80 ($0.48).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 37 ($0.46) price target on shares of Rockhopper Exploration in a research note on Thursday, September 26th.

Rockhopper Exploration Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.72 and a quick ratio of 2.94. The company has a market capitalization of £228.22 million, a price-to-earnings ratio of 1,785.00, a PEG ratio of 0.20 and a beta of 0.87. The stock has a 50-day moving average price of GBX 24.05 and a 200-day moving average price of GBX 17.49.

Rockhopper Exploration Company Profile

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.