Serica Energy (LON:SQZ) Trading Down 12.5% – Here’s What Happened

Serica Energy plc (LON:SQZ) dropped 12.5% during mid-day trading on Tuesday . The stock traded as low as GBX 125.20 ($1.58) and last traded at GBX 126.03 ($1.59). Approximately 18,102,219 shares traded hands during trading, an increase of 840% from the average daily volume of 1,926,468 shares. The stock had previously closed at GBX 144 ($1.81).

Analyst Upgrades and Downgrades

A number of brokerages have commented on SQZ. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a research note on Tuesday. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 200 ($2.52) price objective on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Trading Up 0.2 %

The business has a fifty day moving average price of GBX 141.90 and a 200-day moving average price of GBX 135.60. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The company has a market cap of £646.83 million, a P/E ratio of -90.46, a PEG ratio of 2.15 and a beta of 0.44.

Serica Energy Company Profile

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.