Beach Energy (OTCMKTS:BCHEY) Trading Up 10.6% - Here's What Happened

Key Points

• Beach Energy's stock surged by 10.6% to $17.18, significantly increasing trading volume to 203 shares, a 36,809% rise compared to its average session volume of 1 share.
• UBS Group downgraded Beach Energy's rating from "strong-buy" to "hold", indicating a change in analysts' sentiment regarding the stock's performance.
• The company has a current ratio of 0.84 and a debt-to-equity ratio of 0.01, suggesting relatively low leverage and potential financial stability.

Beach Energy Ltd. (OTCMKTS:BCHEY - Get Free Report)'s stock price shot up 10.6% during trading on Monday . The company traded as high as $17.18 and last traded at $17.18. 203 shares changed hands during mid-day trading, an increase of 36,809% from the average session volume of 1 shares. The stock had previously closed at $15.53.

Analyst Upgrades and Downgrades

Separately, UBS Group downgraded Beach Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, June 11th.

Beach Energy Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $17.40 and a 200 day simple moving average of $16.40.

About Beach Energy

Beach Energy Limited operates as an oil and gas exploration and production company. It engages in the operated and non-operated, onshore and offshore, and oil and gas production in five producing basins across Australia and New Zealand. The company also explores, develops, produces, and transports hydrocarbons; and sells gas and liquid hydrocarbons.