Pantheon Resources (LON:PANR) Trading Down 51.5% - Here's What Happened

Pantheon Resources Plc (LON:PANR - Get Free Report)'s stock price traded down 51.5% on Monday . The company traded as low as GBX 25.20 ($0.34) and last traded at GBX 25.33 ($0.34). 86,196,430 shares were traded during trading, an increase of 908% from the average session volume of 8,550,886 shares. The stock had previously closed at GBX 52.20 ($0.69).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a "speculative buy" rating and issued a GBX 86 ($1.14) price objective on shares of Pantheon Resources in a research note on Monday, March 24th.

Pantheon Resources Trading Up 4.8 %

The company has a market cap of £529.18 million, a P/E ratio of -34.57 and a beta of -0.36. The firm has a 50-day moving average of GBX 59.78 and a 200 day moving average of GBX 40.21. The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35.

Insider Activity

In other news, insider Linda Havard bought 21,000 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were bought at an average cost of GBX 70 ($0.93) per share, for a total transaction of £14,700 ($19,553.07). 10.15% of the stock is currently owned by company insiders.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS"). Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.