Rockhopper Exploration (LON:RKH) Stock Price Up 13% - Here's What Happened

Key Points

• Rockhopper Exploration plc shares soared 13% in a single day, reaching a high of GBX 89.80 ($1.21) and closing at GBX 87 ($1.17) with significantly increased trading volume.
• Canaccord Genuity Group raised its price target for Rockhopper from GBX 49 to GBX 86, reflecting a positive outlook as two analysts rated the stock a "Buy".
• The company's market capitalization is £577.02 million, with a very high P/E ratio of 1,237.45, indicating it's currently valued highly relative to its earnings.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) rose 13% during trading on Friday . The stock traded as high as GBX 89.80 ($1.21) and last traded at GBX 87 ($1.17). Approximately 8,828,586 shares were traded during mid-day trading, an increase of 170% from the average daily volume of 3,274,055 shares. The stock had previously closed at GBX 77 ($1.03).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price objective on shares of Rockhopper Exploration from GBX 49 to GBX 86 and gave the stock a "speculative buy" rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of GBX 61.50.

Rockhopper Exploration Price Performance

The firm has a market capitalization of £577.02 million, a PE ratio of 1,237.45, a P/E/G ratio of 0.20 and a beta of 0.87. 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 business's 50 day moving average is GBX 68.55 and its two-hundred day moving average is GBX 53.19.

Rockhopper Exploration Company Profile

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.

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