Rockhopper Exploration (LON:RKH) Trading Up 14.2% - Here's Why

Key Points

• Rockhopper Exploration's shares surged by 14.2% during trading on Monday, reaching a high of GBX 74.60 ($1.00), with a trading volume increase of 143% compared to its average daily volume.
• Analyst Canaccord Genuity raised its price target for the stock from GBX 49 ($0.65) to GBX 86 ($1.15) and designated it as a "speculative buy."
• The company, which focuses on oil and gas exploration primarily in the UK, recently reported earnings of GBX 7.20 ($0.10) per share for the last quarter and is forecasted to have an EPS of -0.19 for the current fiscal year.

Shares of Rockhopper Exploration plc (LON:RKH - Get Free Report) were up 14.2% during trading on Monday . The stock traded as high as GBX 74.60 ($1.00) and last traded at GBX 73.80 ($0.99). Approximately 7,970,426 shares traded hands during mid-day trading, an increase of 143% from the average daily volume of 3,275,869 shares. The stock had previously closed at GBX 64.60 ($0.86).

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price objective on Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the stock a "speculative buy" rating in a report on Monday, June 9th.

Rockhopper Exploration Stock Performance

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 stock has a market capitalization of £590.49 million, a P/E ratio of 37,492.38, a PEG ratio of 0.20 and a beta of 0.87. The business has a 50-day moving average price of GBX 53.80 and a 200 day moving average price of GBX 45.53.

Rockhopper Exploration (LON:RKH - Get Free Report) last issued its earnings results 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 forecast that Rockhopper Exploration plc will post -0.1899958 EPS for the current fiscal 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 ($0.63), for a total transaction of £23,500 ($31,396.13). 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.

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