Zephyr Energy (LON:ZPHR) Trading Down 10% - What's Next?

Key Points

• Zephyr Energy's stock fell by 10% during mid-day trading, reaching a low of GBX 2.62, with a trading volume increase of 43% compared to its average daily volume.
• Canaccord Genuity Group maintained a "speculative buy" rating on Zephyr Energy, with an increased price target of GBX 11, while the consensus price target stands at GBX 12.
• The company operates in the Rocky Mountain region and has significant oil reserves with a net 2.6 million barrels of oil equivalent located in its 46,000-acre leaseholding in the Paradox Basin, Utah.

Zephyr Energy plc (LON:ZPHR - Get Free Report)'s stock price was down 10% during mid-day trading on Tuesday . The stock traded as low as GBX 2.62 ($0.04) and last traded at GBX 2.70 ($0.04). Approximately 6,088,600 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 4,246,903 shares. The stock had previously closed at GBX 3 ($0.04).

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a "speculative buy" rating and issued a GBX 11 price target on shares of Zephyr Energy in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of GBX 12.

Zephyr Energy Trading Down 10.0%

The firm has a 50 day simple moving average of GBX 2.95 and a 200 day simple moving average of GBX 3.48. The company has a debt-to-equity ratio of 42.73, a quick ratio of 0.87 and a current ratio of 0.45. The firm has a market cap of £56.72 million, a P/E ratio of -238.94 and a beta of 0.77.

Zephyr Energy Company Profile

Zephyr Energy plc AIM: ZPHR OTCQB: ZPHRF is a technology-led oil and gas company focused on responsible resource development from carbon-neutral operations in the Rocky Mountain region of the United States. The Company's mission is rooted in two core values: to be responsible stewards of its investors' capital, and to be responsible stewards of the environment in which it works. Zephyr's flagship asset is an operated 46,000-acre leaseholding located in the Paradox Basin, Utah, 25,000 acres of which has been assessed to hold, net to Zephyr, 2P reserves of 2.6 million barrels of oil equivalent ("mmboe"), 2C resources of 34 mmboe and 2U resources 270 mmboe. In addition to its operated assets, the Company owns working interests in a broad portfolio of non-operated producing wells across the Williston Basin in North Dakota and Montana.

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