Nostrum Oil & Gas (LON:NOG) Shares Down 19.5% – Here’s Why

Nostrum Oil & Gas PLC (LON:NOG)’s share price dropped 19.5% on Tuesday . The company traded as low as GBX 2.50 ($0.03) and last traded at GBX 2.50 ($0.03). Approximately 209,466 shares were traded during mid-day trading, an increase of 72% from the average daily volume of 121,669 shares. The stock had previously closed at GBX 3.11 ($0.04).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 8 ($0.10) price objective on shares of Nostrum Oil & Gas in a report on Friday, January 31st.

Nostrum Oil & Gas Price Performance

The company has a current ratio of 3.35, a quick ratio of 0.17 and a debt-to-equity ratio of -384.25. The stock has a market capitalization of £8.06 million, a P/E ratio of -0.10, a PEG ratio of -0.07 and a beta of 1.33. The company has a fifty day simple moving average of GBX 2.98 and a two-hundred day simple moving average of GBX 3.37.

Nostrum Oil & Gas Company Profile

Nostrum Oil & Gas PLC, an independent oil and gas company, engages in the exploration, development, and production of oil and gas in the pre-Caspian Basin. The company discovers and develops oil and gas reserves, as well as produces and sells crude oil, stabilized condensate, liquefied petroleum gas, and dry gas.