Serica Energy (LON:SQZ) Shares Down 14.2% – Here’s What Happened

Serica Energy plc (LON:SQZ)’s share price fell 14.2% during trading on Tuesday . The stock traded as low as GBX 122.90 ($1.55) and last traded at GBX 123.60 ($1.56). 19,982,543 shares traded hands during mid-day trading, an increase of 908% from the average session volume of 1,981,771 shares. The stock had previously closed at GBX 144 ($1.81).

Wall Street Analysts Forecast Growth

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

Serica Energy Trading Up 0.2 %

The firm has a market capitalization of £646.83 million, a PE ratio of -90.46, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The company has a fifty day moving average of GBX 141.90 and a 200-day moving average of 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.