Rockhopper Exploration (LON:RKH) Stock Price Up 14.2% - Should You Buy?

Key Points

• Rockhopper Exploration's stock price rose by 14.2%, reaching GBX 73.80 ($0.99) during trading, boosted by a significant increase in share volume.
• Canaccord Genuity upgraded Rockhopper's target price from GBX 49 ($0.65) to GBX 86 ($1.15) and rated it as a "speculative buy."
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.63), and insiders now own 19.22% of the company's stock.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s stock price shot up 14.2% during trading on Monday . The company traded as high as GBX 74.60 ($1.00) and last traded at GBX 73.80 ($0.99). 7,970,426 shares were traded 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).

Analyst Upgrades and Downgrades

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

Rockhopper Exploration Trading Up 14.2%

The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.94 and a current ratio of 1.27. The firm has a market capitalization of £590.49 million, a price-to-earnings ratio of 37,492.38, a P/E/G ratio of 0.20 and a beta of 0.87. The business has a fifty day moving average price of GBX 54.17 and a 200 day moving average price of GBX 45.80.

Rockhopper Exploration (LON:RKH - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. As a group, equities analysts forecast that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Activity

In related news, insider Alison Baker sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.63), for a total transaction of £23,500 ($31,396.13). Insiders own 19.22% 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.

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