Canaccord Genuity Group Forecasts Strong Price Appreciation for Afentra (LON:AET) Stock

Afentra (LON:AET - Get Free Report) had its price target raised by Canaccord Genuity Group from GBX 85 ($1.14) to GBX 88 ($1.18) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 76.00% from the stock's current price.

Separately, Shore Capital reissued a "buy" rating and set a GBX 114 ($1.53) price objective on shares of Afentra in a research note on Tuesday.

Afentra Price Performance

LON:AET traded down GBX 0.80 ($0.01) during trading hours on Wednesday, reaching GBX 50 ($0.67). 588,090 shares of the company's stock were exchanged, compared to its average volume of 744,881. The company has a quick ratio of 28.92, a current ratio of 0.78 and a debt-to-equity ratio of 85.96. The company has a market capitalization of £141.22 million, a P/E ratio of 714.29 and a beta of 0.10. Afentra has a 12 month low of GBX 33.07 ($0.44) and a 12 month high of GBX 58 ($0.78). The business's 50-day simple moving average is GBX 45.46 and its two-hundred day simple moving average is GBX 43.96.

Insider Buying and Selling

In other news, insider Ian Richard Cloke sold 103,158 shares of Afentra stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of GBX 40 ($0.54), for a total value of £41,263.20 ($55,371.98). Insiders have bought 101,363 shares of company stock worth $4,057,457 over the last ninety days. 53.87% of the stock is currently owned by corporate insiders.

About Afentra

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland.