Rockhopper Exploration (LON:RKH) Trading Up 13% - Should You Buy?

Key Points

• Rockhopper Exploration's shares surged by 13% during mid-day trading, reaching a peak of GBX 89.80 ($1.21) and significantly increasing trading volume by 170% compared to the daily average.
• Canaccord Genuity Group boosted the price target for Rockhopper Exploration from GBX 49 to GBX 86, reinforcing a "speculative buy" rating, while the stock maintains an average rating of "Buy" with a price target of GBX 61.50.
• The company has a market capitalization of £557.26 million, highlighting its position in the oil and gas exploration sector, primarily in the North Falkland Basin and Greater Mediterranean region.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) were up 13% during mid-day trading on Thursday . The stock traded as high as GBX 89.80 ($1.21) and last traded at GBX 87 ($1.17). Approximately 8,828,586 shares were traded during trading, an increase of 170% from the average daily volume of 3,274,055 shares. The stock had previously closed at GBX 77 ($1.03).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their price target on shares of Rockhopper Exploration from GBX 49 to GBX 86 and gave the stock a "speculative buy" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Rockhopper Exploration presently has an average rating of "Buy" and an average price target of GBX 61.50.

Rockhopper Exploration Price Performance

The firm has a market capitalization of £557.26 million, a PE ratio of 1,195.05, a price-to-earnings-growth 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's 50 day moving average is GBX 68.55 and its two-hundred day moving average is GBX 53.19.

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.

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