Rockhopper Exploration (LON:RKH) Trading Down 9.4% - Here's What Happened

Rockhopper Exploration plc (LON:RKH - Get Free Report) was down 9.4% during mid-day trading on Wednesday . The stock traded as low as GBX 41 ($0.55) and last traded at GBX 47.30 ($0.64). Approximately 15,290,653 shares changed hands during trading, an increase of 340% from the average daily volume of 3,476,915 shares. The stock had previously closed at GBX 52.20 ($0.71).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a "speculative buy" rating and set a GBX 49 ($0.66) price objective on shares of Rockhopper Exploration in a research note on Thursday, May 29th.

Rockhopper Exploration Price Performance

The company's 50-day moving average price is GBX 47.84 and its two-hundred day moving average price is GBX 37.18. The company has a market cap of £363.25 million, a P/E ratio of 23,064.42, a P/E/G ratio of 0.20 and a beta of 0.87. The company has a current ratio of 1.27, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12.

Rockhopper Exploration (LON:RKH - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported GBX 7.20 ($0.10) earnings per share (EPS) for the quarter. As a group, sell-side analysts expect that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Buying and Selling at Rockhopper Exploration

In related news, insider Alison Baker sold 50,000 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.64), for a total transaction of £23,500 ($31,791.13). Company insiders own 19.22% of the company's stock.

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.