Rockhopper Exploration (LON:RKH) Trading 8.4% Higher - Should You Buy?

Key Points

• Rockhopper Exploration's share price surged by 8.4% during mid-day trading, reaching a high of GBX 79.80 ($1.05), significantly above its previous close of GBX 71.60 ($0.95).
• Canaccord Genuity Group raised their price target for the stock from GBX 49 ($0.65) to GBX 86 ($1.14), designating it as a "speculative buy."
• Insider Alison Baker sold 50,000 shares at an average price of GBX 47 ($0.62), indicating potential confidence or strategy shifts within the company's ownership.

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s share price shot up 8.4% during trading on Thursday . The stock traded as high as GBX 79.80 ($1.06) and last traded at GBX 77.60 ($1.03). 17,843,082 shares changed hands during trading, an increase of 428% from the average session volume of 3,382,039 shares. The stock had previously closed at GBX 71.60 ($0.95).

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group boosted their target price on shares of Rockhopper Exploration from GBX 49 ($0.65) to GBX 86 ($1.14) and gave the stock a "speculative buy" rating in a research report on Monday, June 9th.

Rockhopper Exploration Trading Down 0.8%

The firm has a market capitalization 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's fifty day moving average is GBX 56.25 and its 200 day moving average is GBX 47.14. The company has a quick ratio of 2.94, a current ratio of 1.27 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 for the quarter. Equities analysts predict that Rockhopper Exploration plc will post -0.1899958 earnings per share for the current year.

Insider Transactions at Rockhopper Exploration

In other news, insider Alison Baker sold 50,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of GBX 47 ($0.62), for a total value of £23,500 ($31,233.39). 19.22% of the stock is currently owned by corporate insiders.

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.