Zephyr Energy (LON:ZPHR) Trading Down 3.2% - Here's What Happened

Key Points

• Zephyr Energy's stock fell by 3.2%, trading at GBX 3 ($0.04), with a significant decline in trading volume compared to its average.
• Canaccord Genuity downgraded Zephyr Energy's price target from GBX 12 to GBX 9, while maintaining a "speculative buy" rating.
• The company has a market capitalization of £63.02 million and operates in the Rocky Mountain region, focusing on responsible resource development.

Shares of Zephyr Energy plc (LON:ZPHR - Get Free Report) traded down 3.2% on Friday . The company traded as low as GBX 3 ($0.04) and last traded at GBX 3 ($0.04). 1,935,291 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 4,347,361 shares. The stock had previously closed at GBX 3.10 ($0.04).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on Zephyr Energy from GBX 12 to GBX 9 and set a "speculative buy" rating on the stock in a report on Friday, May 30th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Zephyr Energy currently has a consensus rating of "Buy" and an average target price of GBX 11.

Zephyr Energy Stock Down 9.1%

The stock has a fifty day moving average of GBX 3 and a 200 day moving average of GBX 3.53. The firm has a market capitalization of £63.02 million, a P/E ratio of -265.49 and a beta of 0.77. The company has a debt-to-equity ratio of 42.73, a current ratio of 0.45 and a quick ratio of 0.87.

About Zephyr Energy

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.