Pharos Energy (LON:PHAR) Stock Price Up 5.5% - What's Next?

Key Points

• Pharos Energy's stock price rose by 5.5% to GBX 23 ($0.31) on Thursday, recovering from a previous close of GBX 21.80 ($0.30).
• Despite the price increase, trading volume was down 88% compared to its average session, with only 46,877 shares exchanged.
• Insiders have shown confidence in the company, purchasing 33,752 shares valued at $731,033 over the last three months, representing 16.45% ownership of the company.

Shares of Pharos Energy plc (LON:PHAR - Get Free Report) shot up 5.5% during mid-day trading on Thursday . The stock traded as high as GBX 23.10 ($0.31) and last traded at GBX 23 ($0.31). 46,877 shares traded hands during trading, a decline of 88% from the average session volume of 386,001 shares. The stock had previously closed at GBX 21.80 ($0.29).

Analyst Ratings Changes

Separately, Shore Capital reiterated a "house stock" rating on shares of Pharos Energy in a research note on Thursday, July 17th.

Pharos Energy Price Performance

The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99. The firm has a market capitalization of £91.84 million, a price-to-earnings ratio of 412.96, a P/E/G ratio of -0.02 and a beta of 1.61. The stock's 50 day moving average price is GBX 21.53 and its two-hundred day moving average price is GBX 20.71.

Insider Buying and Selling

In related news, insider Katherine Roe acquired 6,925 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was acquired at an average price of GBX 21 per share, with a total value of £1,454.25. Also, insider Sue Rivett acquired 4,586 shares of the stock in a transaction on Friday, June 27th. The stock was bought at an average cost of GBX 21 per share, for a total transaction of £963.06. In the last 90 days, insiders have acquired 33,752 shares of company stock worth $731,033. Company insiders own 16.45% of the company's stock.

Pharos Energy Company Profile

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders. Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.