Rockhopper Exploration (LON:RKH) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• Shares of Rockhopper fell below its 200-day moving average (200‑day MA GBX 74.91), last trading at GBX 73.60 on a volume of 2,952,651 shares.
• Canaccord Genuity upgraded the stock to a Buy and raised its target from GBX 90 to GBX 113, aligning with the consensus average target of GBX 113.
• Insider Samuel John Moody bought 36,744 shares at GBX 53, a move that leaves corporate insiders owning 2.54% of the company.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 74.91 and traded as low as GBX 69.60. Rockhopper Exploration shares last traded at GBX 73.60, with a volume of 2,952,651 shares changing hands.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised Rockhopper Exploration to a "buy" rating and boosted their price target for the stock from GBX 90 to GBX 113 in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Rockhopper Exploration currently has a consensus rating of "Buy" and an average target price of GBX 113.

Rockhopper Exploration Stock Performance

The stock has a market cap of £631.74 million, a PE ratio of -6.53, a price-to-earnings-growth ratio of 0.20 and a beta of 0.01. The firm has a 50-day moving average price of GBX 71.22 and a 200-day moving average price of GBX 74.91. The company has a debt-to-equity ratio of 18.89, a quick ratio of 2.94 and a current ratio of 2.07.

Insiders Place Their Bets

In other news, insider Samuel John Moody bought 36,744 shares of the firm's stock in a transaction on Wednesday, January 21st. The stock was acquired at an average cost of GBX 53 per share, with a total value of £19,474.32. Corporate insiders own 2.54% 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. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.

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