Serica Energy (LON:SQZ) Trading Down 10.6% – Time to Sell?

Serica Energy plc (LON:SQZ)’s share price was down 10.6% during trading on Tuesday . The company traded as low as GBX 121.98 ($1.53) and last traded at GBX 128.80 ($1.62). Approximately 23,487,631 shares were traded during mid-day trading, an increase of 1,027% from the average daily volume of 2,084,862 shares. The stock had previously closed at GBX 144 ($1.81).

Wall Street Analyst Weigh In

A number of equities analysts have commented on SQZ shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a research note on Tuesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a research note on Thursday, January 23rd.

Serica Energy Price Performance

The firm has a market cap of £643.63 million, a P/E ratio of -90.01, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The business has a 50-day simple moving average of GBX 141.90 and a 200 day simple moving average of GBX 135.60. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

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.