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

Key Points

• Rockhopper Exploration shares have crossed above their 200-day moving average, trading at GBX 76.80 ($1.04) with a high of GBX 79.20 ($1.07).
• Canaccord Genuity raised their price target for Rockhopper from GBX 49 to GBX 86 and categorized it as a "speculative buy."
• The company operates primarily in the oil and gas sector within the United Kingdom, focusing on the North Falkland Basin where it holds significant production licenses.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 54.91 ($0.74) and traded as high as GBX 79.20 ($1.07). Rockhopper Exploration shares last traded at GBX 76.80 ($1.04), with a volume of 2,363,358 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group lifted their target price on shares of Rockhopper Exploration from GBX 86 to GBX 90 and gave the company a "speculative buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of GBX 63.50.

Rockhopper Exploration Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.27 and a quick ratio of 2.94. The firm's 50 day moving average is GBX 73.71 and its 200 day moving average is GBX 55.96. The firm has a market cap of £495.77 million, a P/E ratio of 1,063.19, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87.

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.