Pharos Energy (LON:PHAR) Trading Down 2.8% - Should You Sell?

Key Points

• Pharos Energy shares fell 2.8% to GBX 21.20 ($0.29), with a significant decrease in trading volume compared to the average sessions.
• Despite the stock's recent decline, analysts at Shore Capital maintained a "house stock" rating on the shares.
• Insiders have been actively buying stock, with purchases totaling 34,929 shares worth £732,443 in the last 90 days, indicating confidence from company leadership.

Pharos Energy plc (LON:PHAR - Get Free Report) fell 2.8% on Tuesday . The stock traded as low as GBX 21.10 ($0.28) and last traded at GBX 21.20 ($0.29). 63,838 shares changed hands during trading, a decline of 84% from the average session volume of 399,874 shares. The stock had previously closed at GBX 21.80 ($0.29).

Wall Street Analysts Forecast Growth

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

Pharos Energy Stock Performance

The business's fifty day moving average price is GBX 20.89 and its two-hundred day moving average price is GBX 21.08. The stock has a market capitalization of £105.76 million, a P/E ratio of -2.25, a P/E/G ratio of -0.02 and a beta of 1.61. The company has a debt-to-equity ratio of 14.99, a quick ratio of 1.72 and a current ratio of 2.02.

Insider Buying and Selling at Pharos Energy

In related news, insider Sue Rivett purchased 4,452 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average price of GBX 22 per share, for a total transaction of £979.44. Also, insider Katherine Roe purchased 6,724 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The shares were bought at an average price of GBX 22 per share, for a total transaction of £1,479.28. Insiders have purchased a total of 34,929 shares of company stock worth $732,443 in the last 90 days. 51.33% of the stock is currently owned by insiders.

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.

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