Afentra (LON:AET) Trading 1.5% Higher - Time to Buy?

Key Points

• Shares rose 1.5% to GBX 74.50 on Friday with volume surging ~413% to about 6.05 million shares, and the stock is trading above its 50-day (GBX 52.85) and 200-day (GBX 47.33) moving averages.
• Analysts — three currently — give Afentra a consensus Buy rating with an average price target of GBX 99.33; Shore Capital targets GBX 113 and Canaccord lifted its target to GBX 100.
• Afentra is an upstream oil & gas company active in Africa (including a 34% interest in a ~22,840 km² Somaliland project) with a market cap of £168.5m, a PE of 5.77 and a debt-to-equity ratio of 35.42.

Afentra plc (LON:AET - Get Free Report) shares were up 1.5% on Friday . The company traded as high as GBX 77 and last traded at GBX 74.50. Approximately 6,046,712 shares changed hands during mid-day trading, an increase of 413% from the average daily volume of 1,179,322 shares. The stock had previously closed at GBX 73.40.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AET shares. Shore Capital Group restated a "buy" rating and set a GBX 113 target price on shares of Afentra in a report on Thursday, January 22nd. Canaccord Genuity Group lifted their price objective on Afentra from GBX 94 to GBX 100 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Afentra has a consensus rating of "Buy" and an average price target of GBX 99.33.

Afentra Price Performance

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 stock's fifty day moving average is GBX 52.85 and its 200-day moving average is GBX 47.33. The stock has a market cap of £168.47 million, a PE ratio of 5.77 and a beta of 0.09.

Afentra Company Profile

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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