Rockhopper Exploration (LON:RKH) Trading 14.2% Higher - Here's What Happened

Key Points

• Rockhopper Exploration's stock surged by 14.2% during trading, reaching a last traded price of GBX 73.80 ($0.99) after closing at GBX 64.60 ($0.86) the previous day.
• Canaccord Genuity Group upgraded its price target for Rockhopper shares from GBX 49 ($0.65) to GBX 86 ($1.15), assigning a "speculative buy" rating.
• The company reported an EPS of GBX 7.20 ($0.10) for its last quarter, but analysts predict it will post a negative earnings per share of approximately -0.19 for the current fiscal year.

Rockhopper Exploration plc (LON:RKH - Get Free Report) was up 14.2% during mid-day 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).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their price objective on shares of Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.15) and gave the company a "speculative buy" rating in a research note on Monday, June 9th.

Rockhopper Exploration Price Performance

The company has a current ratio of 1.27, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of £590.49 million, a P/E ratio of 37,492.38, a P/E/G ratio of 0.20 and a beta of 0.87. The business's fifty day moving average is GBX 54.17 and its 200 day moving average is GBX 45.80.

Rockhopper Exploration (LON:RKH - Get Free Report) last posted 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, analysts forecast that Rockhopper Exploration plc will post -0.1899958 EPS for the current year.

Insider Transactions 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 ($31,383.55). 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.