Serica Energy (LON:SQZ) Stock Price Down 12% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s stock price dropped 12% during trading on Tuesday . The company traded as low as GBX 121.98 ($1.53) and last traded at GBX 126.70 ($1.59). Approximately 22,759,906 shares were traded during mid-day trading, an increase of 1,003% from the average daily volume of 2,063,458 shares. The stock had previously closed at GBX 144 ($1.81).

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 200 ($2.52) price objective on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a research note on Thursday, January 23rd.

Serica Energy Stock Performance

The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69. The stock has a market cap of £646.83 million, a PE ratio of -90.46, a P/E/G ratio of 2.15 and a beta of 0.44. The firm’s 50-day moving average is GBX 141.90 and its 200 day moving average is GBX 135.60.

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.