Rockhopper Exploration (LON:RKH) Shares Up 11.5% – Here’s Why

Rockhopper Exploration plc (LON:RKH) traded up 11.5% during trading on Monday . The company traded as high as GBX 26.90 ($0.34) and last traded at GBX 25.87 ($0.33). 8,273,394 shares were traded during mid-day trading, an increase of 642% from the average session volume of 1,115,005 shares. The stock had previously closed at GBX 23.20 ($0.29).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 37 ($0.47) target price on shares of Rockhopper Exploration in a research report on Thursday, September 26th.

Rockhopper Exploration Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.72 and a quick ratio of 2.94. The stock has a market capitalization of £166.93 million, a price-to-earnings ratio of 1,305.65, a PEG ratio of 0.20 and a beta of 0.87. The stock’s 50 day simple moving average is GBX 16.44 and its 200-day simple moving average is GBX 15.01.

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.