Rockhopper Exploration (LON:RKH) Stock Price Up 9.7% – Time to Buy?

Rockhopper Exploration plc (LON:RKH)’s share price shot up 9.7% on Wednesday . The company traded as high as GBX 20.50 ($0.26) and last traded at GBX 19.75 ($0.25). 3,227,495 shares were traded during trading, an increase of 217% from the average session volume of 1,016,967 shares. The stock had previously closed at GBX 18 ($0.23).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a “speculative buy” rating and issued a GBX 37 ($0.47) target price on shares of Rockhopper Exploration in a report on Thursday, September 26th.

Rockhopper Exploration Stock Performance

The company has a market cap of £127.85 million, a P/E ratio of 900.00, a P/E/G ratio of 0.20 and a beta of 0.87. 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 business has a fifty day simple moving average of GBX 14.34 and a two-hundred day simple moving average of GBX 14.29.

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.