Rockhopper Exploration (LON:RKH) Stock Price Up 8.4% - Should You Buy?

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) shares rose 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). Approximately 17,843,082 shares traded hands during trading, an increase of 428% from the average daily 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 raised their price target on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the stock a "speculative buy" rating in a research report on Monday, June 9th.

Rockhopper Exploration Stock Performance

The stock 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. The stock has a fifty day moving average of GBX 55.40 and a 200-day moving average of GBX 46.46. The company has a quick ratio of 2.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.12.

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

Insider Transactions at Rockhopper Exploration

In other Rockhopper Exploration news, insider Alison Baker sold 50,000 shares of Rockhopper Exploration stock in a transaction dated 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). Company insiders own 19.22% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.