Genel Energy (LON:GENL) Shares Up 12.4% - Time to Buy?

Genel Energy plc (LON:GENL - Get Free Report)'s share price shot up 12.4% on Wednesday . The company traded as high as GBX 65 ($0.89) and last traded at GBX 64.31 ($0.88). 2,177,922 shares changed hands during trading, an increase of 486% from the average session volume of 371,352 shares. The stock had previously closed at GBX 57.20 ($0.79).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their price objective on shares of Genel Energy from GBX 98 ($1.35) to GBX 92 ($1.26) and set a "speculative buy" rating for the company in a research note on Wednesday, March 19th.

Genel Energy Trading Up 13.7%

The firm has a market capitalization of £225.86 million, a price-to-earnings ratio of -10.66, a PEG ratio of -0.03 and a beta of 1.13. The company has a debt-to-equity ratio of 59.32, a current ratio of 5.26 and a quick ratio of 5.87. The business's 50-day moving average price is GBX 53.92 and its 200 day moving average price is GBX 59.94.

Genel Energy Company Profile

Genel Energy is a socially responsible oil producer with a low-cost and low-carbon production asset in the Kurdistan Region of Iraq and exploration assets in Oman, Morocco and Somaliland and listed on the main market of the London Stock Exchange (LSE: GENL, LEI: 549300IVCJDWC3LR8F94). Genel's strategy is designed to build a business with resilient and diversified cash flows that delivers sustainable value to shareholders, and with the aim of restarting the payment of a regular dividend.

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