Genel Energy (LON:GENL) Stock Price Passes Below 200 Day Moving Average - Here's What Happened

Key Points

• Genel Energy's stock has fallen below its 200-day moving average, trading as low as GBX 59.13 ($0.80) but last trading at GBX 60 ($0.81) with a volume of 162,943 shares.
• Analysts at Canaccord Genuity Group have maintained a "speculative buy" rating for Genel Energy, setting a price target of GBX 80 ($1.09).
• The company is recognized for its socially responsible practices and aims to deliver sustainable value to shareholders, focusing on low-cost and low-carbon production in the Kurdistan Region of Iraq.

Genel Energy plc (LON:GENL - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 59.54 ($0.81) and traded as low as GBX 59.13 ($0.80). Genel Energy shares last traded at GBX 60 ($0.81), with a volume of 162,943 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and issued a GBX 80 ($1.08) target price on shares of Genel Energy in a research report on Wednesday, August 6th.

Genel Energy Stock Performance

The firm has a 50 day moving average of GBX 59.89 and a 200-day moving average of GBX 59.52. The stock has a market capitalization of £206.97 million, a PE ratio of -9.77, a P/E/G ratio of -0.03 and a beta of 1.13. The company has a debt-to-equity ratio of 59.32, a quick ratio of 5.87 and a current ratio of 5.26.

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.