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

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% during trading 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 changed 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).

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price 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 Stock Down 0.8%

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 company has a market cap of £595.29 million, a price-to-earnings ratio of 37,797.20, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The business has a 50-day simple moving average of GBX 56.25 and a 200-day simple moving average of GBX 47.14.

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

Insider Buying and Selling at Rockhopper Exploration

In other news, insider Alison Baker sold 50,000 shares of the firm's 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 ($31,233.39). 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.