Savannah Energy (LON:SAVE) Trading 25% Higher - Here's Why

Shares of Savannah Energy PLC (LON:SAVE - Get Free Report) were up 25% during mid-day trading on Friday . The stock traded as high as GBX 7.50 ($0.10) and last traded at GBX 7.50 ($0.10). Approximately 1,152,902 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 3,173,795 shares. The stock had previously closed at GBX 6 ($0.08).

Analyst Upgrades and Downgrades

Separately, Shore Capital reiterated a "house stock" rating on shares of Savannah Energy in a research note on Monday, May 19th.

Savannah Energy Stock Down 0.8%

The company has a current ratio of 0.76, a quick ratio of 0.57 and a debt-to-equity ratio of 228.16. The firm's 50 day simple moving average is GBX 7.15 and its 200-day simple moving average is GBX 17.53. The stock has a market capitalization of £8.14 billion, a price-to-earnings ratio of -4.02 and a beta of 0.86.

Insider Buying and Selling at Savannah Energy

In other news, insider Andrew Knott acquired 1,540,000 shares of the stock in a transaction dated Monday, May 19th. The shares were bought at an average cost of GBX 6 ($0.08) per share, for a total transaction of £92,400 ($124,915.51). Company insiders own 15.77% of the company's stock.

Savannah Energy Company Profile

Savannah Energy PLC is a British independent energy company focused around the delivery of Projects that Matter in Africa. We are active in both hydrocarbon and renewable energy projects. In Nigeria, Savannah has a significant controlling interest in a large-scale integrated gas production and distribution business which is capable of supplying gas to enable approximately 20% of Nigeria's thermal power generation capacity.