Afentra (LON:AET) Trading Down 0.6% - What's Next?

Key Points

• Afentra's share price decreased by 0.6%, closing at GBX 48.50 ($0.65), with trading volume rising by 8% compared to the average session.
• Analysts from Canaccord Genuity and Shore Capital have raised their price targets for Afentra, highlighting a "buy" rating with targets set at GBX 88 ($1.18) and GBX 114 ($1.53), respectively.
• Insider trading activity shows that insiders have collectively acquired 101,363 shares of Afentra stock valued at over $4 million in the last three months, indicating confidence in the company's prospects.

Afentra plc (LON:AET - Get Free Report)'s share price fell 0.6% on Wednesday . The company traded as low as GBX 47.40 ($0.64) and last traded at GBX 48.50 ($0.65). 778,635 shares traded hands during mid-day trading, an increase of 8% from the average session volume of 718,945 shares. The stock had previously closed at GBX 48.80 ($0.66).

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Afentra from GBX 85 ($1.14) to GBX 88 ($1.18) and gave the company a "buy" rating in a report on Wednesday, July 16th. Shore Capital reissued a "buy" rating and issued a GBX 114 ($1.53) price target on shares of Afentra in a report on Tuesday, July 15th.

Afentra Trading Down 2.9%

The firm has a market capitalization of £134.44 million, a PE ratio of 680.00 and a beta of 0.10. 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 stock's fifty day simple moving average is GBX 48.83 and its 200 day simple moving average is GBX 44.11.

Insider Buying and Selling

In related news, insider Ian Richard Cloke sold 103,158 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of GBX 40 ($0.54), for a total value of £41,263.20 ($55,498.59). Insiders have acquired a total of 101,363 shares of company stock worth $4,057,457 in the last three months. 53.87% of the stock is owned by company insiders.

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.