Afentra (LON:AET) Trading Up 9.5% – Here’s Why

Shares of Afentra plc (LON:AET) were up 9.5% during mid-day trading on Saturday . The stock traded as high as GBX 42 ($0.56) and last traded at GBX 41.50 ($0.55). Approximately 937,530 shares traded hands during trading, an increase of 27% from the average daily volume of 736,398 shares. The stock had previously closed at GBX 37.90 ($0.50).

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AET shares. Shore Capital reiterated a “buy” rating on shares of Afentra in a research report on Thursday, April 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 75 ($1.00) price target on shares of Afentra in a research report on Friday, April 25th.

Afentra Trading Up 9.5%

The firm has a market capitalization of £117.21 million, a price-to-earnings ratio of 592.86 and a beta of 0.10. The company has a debt-to-equity ratio of 85.96, a current ratio of 0.78 and a quick ratio of 28.92. The firm’s 50-day simple moving average is GBX 38.88 and its 200 day simple moving average is GBX 43.64.

Afentra Company Profile

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland.