Rockhopper Exploration (LON:RKH) Trading 8.4% Higher - Should You Buy?

Key Points

• Rockhopper Exploration shares rose 8.4% on Friday, reaching a trading high of GBX 79.80 ($1.05) and significantly increasing trading volume by 428% compared to the average.
• Canaccord Genuity upgraded Rockhopper's price target from GBX 49 ($0.65) to GBX 86 ($1.14) and assigned a "speculative buy" rating, indicating positive market sentiment.
• In recent insider activity, Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.62), with corporate insiders owning 19.22% of the company's stock.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s share price was up 8.4% on Friday . The company traded as high as GBX 79.80 ($1.06) and last traded at GBX 77.60 ($1.03). Approximately 17,843,082 shares were traded 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).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased 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 note on Monday, June 9th.

Rockhopper Exploration Trading Down 2.3%

The firm has a market capitalization of £606.49 million, a price-to-earnings ratio of 38,508.43, a P/E/G ratio of 0.20 and a beta of 0.87. 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 business has a fifty day moving average price of GBX 55.83 and a 200 day moving average price of GBX 46.74.

Rockhopper Exploration (LON:RKH - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported GBX 7.20 ($0.10) 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 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 transaction of £23,500 ($31,191.93). 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.