Pharos Energy (LON:PHAR) Trading 20.6% Higher – Still a Buy?

Pharos Energy plc (LON:PHAR)’s stock price was up 20.6% during mid-day trading on Tuesday . The company traded as high as GBX 23.50 ($0.30) and last traded at GBX 22.97 ($0.30). Approximately 709,355 shares were traded during trading, an increase of 116% from the average daily volume of 328,853 shares. The stock had previously closed at GBX 19.05 ($0.25).

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a “house stock” rating on shares of Pharos Energy in a research note on Thursday, January 23rd.

Pharos Energy Stock Performance

The company has a market cap of £114.56 million, a P/E ratio of -2.44, a P/E/G ratio of -0.02 and a beta of 1.61. The firm’s fifty day moving average price is GBX 24.13 and its 200-day moving average price is GBX 23.61. The company has a current ratio of 2.02, a quick ratio of 1.72 and a debt-to-equity ratio of 14.99.

Insider Buying and Selling

In other news, insider Sue Rivett bought 3,798 shares of the stock in a transaction on Monday, January 27th. The stock was purchased at an average price of GBX 26 ($0.34) per share, with a total value of £987.48 ($1,275.98). Insiders have acquired a total of 11,922 shares of company stock worth $293,724 in the last three months. Insiders own 51.33% of the company’s stock.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.