Afentra (LON:AET) Trading Down 0.4% - Here's Why

Key Points

• Shares of Afentra plc traded down 0.4% to GBX 48.20 ($0.65) during Thursday's trading session, with a significant drop in trading volume of 68%.
• Analysts have issued a "buy" rating for Afentra, with target prices ranging from GBX 88 to GBX 114, indicating positive outlook and confidence in the stock's potential.
• Afentra operates as an upstream oil and gas company primarily in Africa, holding a 34% interest in an exploration project covering approximately 22,840 square kilometers in Somaliland.

Afentra plc (LON:AET - Get Free Report)'s stock price was down 0.4% on Thursday . The stock traded as low as GBX 48.20 ($0.65) and last traded at GBX 48.20 ($0.65). Approximately 222,144 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 690,447 shares. The stock had previously closed at GBX 48.40 ($0.65).

Analyst Ratings Changes

Several equities analysts have recently weighed in on AET shares. Canaccord Genuity Group increased their price objective on shares of Afentra from GBX 85 to GBX 88 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Shore Capital reiterated a "buy" rating and issued a GBX 114 price objective on shares of Afentra in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of GBX 94.

Afentra Stock Up 2.1%

The company's 50 day moving average price is GBX 48.91 and its two-hundred day moving average price is GBX 43.99. The company has a current ratio of 0.78, a quick ratio of 28.92 and a debt-to-equity ratio of 85.96. The stock has a market cap of £111.27 million, a P/E ratio of 233.18 and a beta of 0.10.

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.