Afentra (LON:AET) Reaches New 52-Week High - Time to Buy?

Key Points

• 52-week high: Afentra shares reached a new 52-week high of GBX 89.40 (last traded GBX 86.90) on heavy volume of 1,668,819 shares, up from a prior close of GBX 84.80.
• Analyst sentiment: Three analysts rate the stock a Buy, with Canaccord upgrading to Buy and lifting its price target to GBX 115 and an average analyst target of GBX 104.33.
• Fundamentals and business: The stock trades above its 50-day (GBX 64.24) and 200-day (GBX 50.60) moving averages; Afentra is an upstream oil & gas firm focused on Africa (including a 34% Somaliland project) with a market cap of £196.53M and a P/E of 6.74.

Afentra plc (LON:AET - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as GBX 89.40 and last traded at GBX 86.90, with a volume of 1668819 shares changing hands. The stock had previously closed at GBX 84.80.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Shore Capital Group reaffirmed a "buy" rating on shares of Afentra in a research note on Tuesday, March 31st. Canaccord Genuity Group raised shares of Afentra to a "buy" rating and lifted their price target for the company from GBX 80 to GBX 115 in a research note on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of GBX 104.33.

Afentra Stock Performance

The stock's 50-day moving average price is GBX 64.24 and its 200 day moving average price is GBX 50.60. The company has a debt-to-equity ratio of 35.42, a current ratio of 0.84 and a quick ratio of 28.92. The firm has a market cap of £196.53 million, a P/E ratio of 6.74 and a beta of 0.09.

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. Afentra plc was formerly known as Sterling Energy plc and changed its name to Afentra plc in May 2021. The company was incorporated in 1983 and is based in London, the United Kingdom.

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