Arrow Exploration (LON:AXL) Shares Down 8.8% - Time to Sell?

Key Points

• Arrow Exploration shares fell 8.8% on Friday to GBX 20.70 (intraday low GBX 19) on volume of 1,189,200 shares, about 25% above the average session volume.
• Canaccord Genuity raised its target price to GBX 28 and gave a "speculative buy" rating; the stock's consensus is a Buy with an average price target of GBX 28.
• The company — market cap £57.89m, P/E 6.75 — operates Brent‑linked light oil assets in Colombia's Llanos, MMV and Putumayo basins, offering high working interests and relatively low royalties.

Arrow Exploration Corp. (LON:AXL - Get Free Report)'s share price traded down 8.8% during trading on Friday . The company traded as low as GBX 19 and last traded at GBX 20.70. 1,189,200 shares traded hands during mid-day trading, an increase of 25% from the average session volume of 947,665 shares. The stock had previously closed at GBX 22.70.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price on shares of Arrow Exploration from GBX 22 to GBX 28 and gave the company a "speculative buy" rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of GBX 28.

Arrow Exploration Stock Down 10.8%

The business's fifty day moving average price is GBX 19.50 and its 200 day moving average price is GBX 14.93. The firm has a market capitalization of £57.89 million, a price-to-earnings ratio of 6.75 and a beta of 1.51. The company has a current ratio of 1.01, a quick ratio of 1.65 and a debt-to-equity ratio of 0.34.

Arrow Exploration Company Profile

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. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.

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