Rockhopper Exploration (LON:RKH) Trading Up 13.2% – Time to Buy?

Shares of Rockhopper Exploration plc (LON:RKH) were up 13.2% during mid-day trading on Thursday . The company traded as high as GBX 35.06 ($0.43) and last traded at GBX 34.40 ($0.42). Approximately 9,515,748 shares changed hands during trading, an increase of 17% from the average daily volume of 8,119,304 shares. The stock had previously closed at GBX 30.40 ($0.37).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 37 ($0.45) price objective on shares of Rockhopper Exploration in a research report on Thursday, September 26th.

Rockhopper Exploration Price Performance

The company has a quick ratio of 2.94, a current ratio of 1.72 and a debt-to-equity ratio of 0.12. The company has a market capitalization of £219.91 million, a price-to-earnings ratio of 1,720.00, a PEG ratio of 0.20 and a beta of 0.87. The stock’s 50-day simple moving average is GBX 19.74 and its two-hundred day simple moving average is GBX 16.03.

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.