Rockhopper Exploration (LON:RKH) Trading 8.4% Higher - Here's What Happened

Key Points

• Rockhopper Exploration shares experienced a significant increase of 8.4%, trading as high as GBX 79.80 ($1.05) during mid-day trading on Thursday, indicating strong investor interest.
• Analysts at Canaccord Genuity Group raised their price target for the company from GBX 49 ($0.65) to GBX 86 ($1.14), recommending a "speculative buy" rating.
• The company reported earnings of GBX 7.20 ($0.10) per share for the last quarter, with analysts forecasting a negative earnings per share of -0.19 for the current year.

Rockhopper Exploration plc (LON:RKH - Get Free Report) shares traded up 8.4% during mid-day trading on Thursday . The company traded as high as GBX 79.80 ($1.05) 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).

Analyst Upgrades and Downgrades

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

Rockhopper Exploration Trading Down 2.8%

The company has a market cap of £603.29 million, a P/E ratio of 38,305.22, a PEG ratio of 0.20 and a beta of 0.87. The business has a fifty day moving average price of GBX 55.40 and a 200-day moving average price 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 announced its earnings results on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. On average, analysts forecast that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Activity

In other Rockhopper Exploration news, insider Alison Baker sold 50,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.62), for a total value 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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