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

Serica Energy plc (LON:SQZ) dropped 12% during mid-day trading on Tuesday . The stock traded as low as GBX 121.98 ($1.53) and last traded at GBX 126.75 ($1.59). Approximately 23,115,873 shares changed hands during trading, an increase of 1,015% from the average daily volume of 2,073,928 shares. The stock had previously closed at GBX 144 ($1.81).

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Berenberg Bank restated a “buy” rating and issued a GBX 200 ($2.52) price objective on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set 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 firm has a fifty day moving average of GBX 141.90 and a 200-day moving average 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 firm 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.

About Serica Energy

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.