Nostrum Oil & Gas (LON:NOG) Share Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Nostrum Oil & Gas PLC (LON:NOG) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 3.02 ($0.04) and traded as high as GBX 3.50 ($0.04). Nostrum Oil & Gas shares last traded at GBX 2.70 ($0.03), with a volume of 112,603 shares.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 8 ($0.10) target price on shares of Nostrum Oil & Gas in a research report on Friday, January 31st.

Nostrum Oil & Gas Price Performance

The stock’s 50-day moving average price is GBX 3.02 and its 200-day moving average price is GBX 3.79. The company has a market capitalization of £7.11 million, a price-to-earnings ratio of -0.09, a price-to-earnings-growth ratio of -0.07 and a beta of 1.33. The company has a quick ratio of 0.17, a current ratio of 3.35 and a debt-to-equity ratio of -384.25.

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC, an independent oil and gas company, engages in the exploration, development, and production of oil and gas in the pre-Caspian Basin. The company discovers and develops oil and gas reserves, as well as produces and sells crude oil, stabilized condensate, liquefied petroleum gas, and dry gas.