Pantheon Resources (LON:PANR) Shares Down 7% – What’s Next?

Pantheon Resources Plc (LON:PANR) shares dropped 7% on Tuesday . The company traded as low as GBX 16.78 ($0.22) and last traded at GBX 16.92 ($0.22). Approximately 6,586,093 shares changed hands during trading, an increase of 56% from the average daily volume of 4,221,328 shares. The stock had previously closed at GBX 18.20 ($0.24).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group cut their price target on Pantheon Resources from GBX 90 ($1.18) to GBX 85 ($1.11) and set a “speculative buy” rating for the company in a research note on Tuesday, August 6th.

Pantheon Resources Price Performance

The stock’s 50 day simple moving average is GBX 16.93 and its 200 day simple moving average is GBX 24.45. The company has a debt-to-equity ratio of 8.69, a quick ratio of 20.28 and a current ratio of 0.58. The firm has a market capitalization of £191.20 million, a P/E ratio of -3,070.00 and a beta of -0.36.

Pantheon Resources Company Profile

Pantheon Resources Plc, through its subsidiaries, engages in the exploration and production of oil and gas in the United States. Its primary assets are the Alkaid project that covers that covers 40,000 acres located in Alaska; and the Kodiak project covering an area of approximately 124,000 acres located in Alaska.