Canaccord Genuity Group Reiterates Buy Rating for Arrow Exploration (LON:AXL)

Arrow Exploration (LON:AXL - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Friday,London Stock Exchange reports. They presently have a GBX 28 ($0.38) price objective on the stock. Canaccord Genuity Group's target price indicates a potential upside of 68.67% from the company's previous close.

Arrow Exploration Stock Performance

Arrow Exploration stock traded down GBX 0.40 ($0.01) during mid-day trading on Friday, reaching GBX 16.60 ($0.22). 3,261,227 shares of the company's stock were exchanged, compared to its average volume of 893,590. The business's fifty day simple moving average is GBX 16.64 and its 200 day simple moving average is GBX 20.10. The firm has a market capitalization of £59.48 million, a PE ratio of 98.90 and a beta of 1.51. Arrow Exploration has a one year low of GBX 14 ($0.19) and a one year high of GBX 33.50 ($0.45). The company has a quick ratio of 1.65, a current ratio of 1.71 and a debt-to-equity ratio of 0.44.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin.