Harbour Energy (OTCMKTS:HBRIY) Shares Gap Down - Here's What Happened

Key Points

• Harbour Energy's stock price gapped down from $3.83 to $3.55 before trading at $3.62, indicating a significant decline in value.
• Morgan Stanley has reaffirmed an "overweight" rating on Harbour Energy shares, signaling potential long-term growth despite the recent price drop.
• The company has a current ratio of 0.70 and a debt-to-equity ratio of 0.68, reflecting its financial health and leverage in the energy sector.

Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.83, but opened at $3.55. Harbour Energy shares last traded at $3.62, with a volume of 500 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reiterated an "overweight" rating on shares of Harbour Energy in a report on Tuesday, June 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Harbour Energy currently has a consensus rating of "Moderate Buy".

Harbour Energy Stock Performance

The company's 50 day moving average is $2.83 and its 200 day moving average is $2.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.70 and a quick ratio of 0.63.

Harbour Energy Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, October 6th. Stockholders of record on Tuesday, August 19th will be given a $0.1119 dividend. This represents a dividend yield of 623.0%. The ex-dividend date is Monday, August 18th.

About Harbour Energy

Harbour Energy plc, together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and gas reserves. The company holds interests in various properties located in the United Kingdom, Norwegian Continental Shelves, Indonesia, Vietnam, and Mexico. It is also involved in the decommissioning, financing, gas trading, and risk mitigation activities.