Rockhopper Exploration (LON:RKH) Shares Up 8.4% - What's Next?

Key Points

• Rockhopper Exploration plc shares increased by 8.4%, trading at GBX 77.60 ($1.03), which marks a significant rise from the previous close of GBX 71.60 ($0.95) on Thursday.
• Analysts at Canaccord Genuity have raised their price target for the stock from GBX 49 ($0.65) to GBX 86 ($1.14), recommending a "speculative buy" rating.
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.62), contributing to a total transaction value of £23,500 ($31,043.59).

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s stock price shot up 8.4% during mid-day trading on Thursday . The company traded as high as GBX 79.80 ($1.06) and last traded at GBX 77.60 ($1.03). 17,843,082 shares traded hands 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 boosted their price target on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the company a "speculative buy" rating in a report on Monday, June 9th.

Rockhopper Exploration Trading Down 1.1%

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 £600.09 million, a price-to-earnings ratio of 38,102.01, a P/E/G ratio of 0.20 and a beta of 0.87. The company has a 50 day moving average price of GBX 55.83 and a two-hundred day moving average price of GBX 46.89.

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

Insider Transactions at Rockhopper Exploration

In other news, insider Alison Baker sold 50,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of GBX 47 ($0.62), for a total value of £23,500 ($31,204.36). 19.22% of the stock is currently owned by 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.