Pharos Energy (LON:PHAR) Stock Price Up 14.3% After Insider Buying Activity

Pharos Energy plc (LON:PHAR)’s share price shot up 14.3% on Monday following insider buying activity. The company traded as high as GBX 24 ($0.30) and last traded at GBX 24 ($0.30). 1,821,245 shares were traded during trading, an increase of 604% from the average session volume of 258,805 shares. The stock had previously closed at GBX 21 ($0.27).

Specifically, insider Sue Rivett sold 68,491 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of £15,493.14 ($19,596.69), for a total value of £1,061,140,651.74 ($1,342,196,625.02). Insiders bought a total of 12,083 shares of company stock valued at $293,937 in the last quarter. Insiders own 52.80% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Pharos Energy in a research note on Monday.

Pharos Energy Trading Down 4.6 %

The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99. The stock has a market capitalization of £96.08 million, a P/E ratio of -255.54, a price-to-earnings-growth ratio of -0.02 and a beta of 1.60. The company has a fifty day simple moving average of GBX 23.39 and a two-hundred day simple moving average of GBX 21.90.

Pharos Energy Company Profile

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.