Rockhopper Exploration (LON:RKH) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

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 share price crossed 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 ($1.06). Rockhopper Exploration shares last traded at GBX 76.40 ($1.03), with a volume of 1,326,162 shares.

Wall Street Analyst Weigh In

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

Rockhopper Exploration Price Performance

The company has a quick ratio of 2.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.12. The company has a market cap of £593.69 million, a price-to-earnings ratio of 37,695.59, a PEG ratio of 0.20 and a beta of 0.87. The stock's 50-day simple moving average is GBX 59.05 and its 200 day simple moving average is GBX 48.67.

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, equities research analysts anticipate that Rockhopper Exploration plc will post -0.1899958 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alison Baker sold 50,000 shares of the business'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 value of £23,500 ($31,726.74). 19.22% of the stock is currently owned by company insiders.

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.