Rockhopper Exploration (LON:RKH) Stock Price Up 8.4% - Here's Why

Key Points

• Rockhopper Exploration plc's shares surged by 8.4% to a high of GBX 79.80 ($1.05), significantly increasing trading volume by 428% compared to the average session.
• Analysts at Canaccord Genuity Group raised their price target for the stock from GBX 49 ($0.65) to GBX 86 ($1.14) and assigned a "speculative buy" rating.
• Insider trading was noted as Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.62), representing 19.22% of the company's current insider ownership.

Rockhopper Exploration plc (LON:RKH - Get Free Report) shares traded up 8.4% during trading on Thursday . The stock traded as high as GBX 79.80 ($1.05) and last traded at GBX 77.60 ($1.03). 17,843,082 shares were traded during mid-day trading, an increase of 428% from the average session volume of 3,382,039 shares. The stock had previously closed at GBX 71.60 ($0.95).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective on shares of Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the company a "speculative buy" rating in a research note on Monday, June 9th.

Rockhopper Exploration Stock 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 stock has a 50-day moving average price of GBX 54.92 and a 200-day moving average price of GBX 46.18. The firm has a market capitalization of £620.89 million, a PE ratio of 39,422.88, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87.

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

Insider Buying and Selling

In other news, insider Alison Baker sold 50,000 shares of Rockhopper Exploration stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.62), for a total transaction of £23,500 ($31,043.59). 19.22% of the stock is currently owned by insiders.

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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