Rockhopper Exploration (LON:RKH) Stock Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Rockhopper Exploration's share price has surpassed its 200-day moving average, trading at GBX 76.40 ($1.03), indicating a positive trend in the stock's performance.
• Analysts at Canaccord Genuity have upgraded their target price for Rockhopper Exploration from GBX 49 ($0.66) to GBX 86 ($1.16), suggesting a bullish outlook for the company.
• Insider trading activity was noted, with Alison Baker selling 50,000 shares at an average price of GBX 47 ($0.63), signaling possible shifts in insider confidence.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 48.05 ($0.65) and traded as high as GBX 78.40 ($1.05). Rockhopper Exploration shares last traded at GBX 76.40 ($1.03), with a volume of 1,326,162 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised their price objective on Rockhopper Exploration from GBX 49 ($0.66) to GBX 86 ($1.16) and gave the company a "speculative buy" rating in a research note on Monday, June 9th.

Rockhopper Exploration Price Performance

The firm has a market capitalization of £611.29 million, a P/E ratio of 38,813.25, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The firm has a 50 day moving average price of GBX 58.02 and a 200-day moving average price of GBX 48.20. The company has a current ratio of 1.27, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12.

Rockhopper Exploration (LON:RKH - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. On average, analysts expect that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Activity

In related news, insider Alison Baker sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.63), for a total transaction of £23,500 ($31,594.51). Corporate insiders own 19.22% of the company's stock.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.