Rockhopper Exploration (LON:RKH) Trading 14.2% Higher - What's Next?

Key Points

• Rockhopper Exploration's shares surged 14.2% during Tuesday's trading, reaching a high of GBX 74.60 ($1.00), significantly increasing its trading volume by 143% compared to its average session.
• Canaccord Genuity Group raised its price target for Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and assigned a "speculative buy" rating on June 9th.
• The company reported an EPS of GBX 7.20 ($0.10) for the last quarter, with analysts predicting a negative EPS of -0.19 for the current fiscal year.

Rockhopper Exploration plc (LON:RKH - Get Free Report) shares traded up 14.2% during trading on Tuesday . The stock traded as high as GBX 74.60 ($1.00) and last traded at GBX 73.80 ($0.99). 7,970,426 shares changed hands during mid-day trading, an increase of 143% from the average session volume of 3,275,869 shares. The stock had previously closed at GBX 64.60 ($0.86).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their target price on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the company a "speculative buy" rating in a report on Monday, June 9th.

Rockhopper Exploration Stock 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 firm has a market capitalization of £590.49 million, a PE ratio of 37,492.38, a PEG ratio of 0.20 and a beta of 0.87. The stock's fifty day simple moving average is GBX 54.57 and its 200 day simple moving average is GBX 46.

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

Insiders Place Their Bets

In other Rockhopper Exploration news, insider Alison Baker sold 50,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.63), for a total transaction of £23,500 ($31,383.55). 19.22% of the stock is owned by corporate 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.