Capricorn Energy (LON:CNE) Shares Cross Below 200-Day Moving Average – Time to Sell?

Capricorn Energy PLC (LON:CNE) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 259.06 ($3.56) and traded as low as GBX 224.50 ($3.08). Capricorn Energy shares last traded at GBX 230 ($3.16), with a volume of 4,266 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CNE shares. Canaccord Genuity Group reiterated a “speculative buy” rating and issued a GBX 285 ($3.91) target price on shares of Capricorn Energy in a research note on Thursday, May 8th. Shore Capital reaffirmed a “buy” rating on shares of Capricorn Energy in a research note on Tuesday, May 20th.

Capricorn Energy Stock Performance

The stock’s 50-day moving average price is GBX 228.36 and its 200 day moving average price is GBX 259.06. The company has a debt-to-equity ratio of 32.44, a current ratio of 2.56 and a quick ratio of 6.29. The firm has a market cap of £203.22 million, a P/E ratio of -2.28, a price-to-earnings-growth ratio of -1.92 and a beta of 1.35.

Insider Activity

In other news, insider Sachin Mistry purchased 6,491 shares of the business’s stock in a transaction on Monday, April 28th. The stock was purchased at an average price of GBX 222 ($3.05) per share, for a total transaction of £14,410.02 ($19,788.55). 1.01% of the stock is currently owned by corporate insiders.

About Capricorn Energy

Capricorn is a cash flow-focused energy producer, with an attractive portfolio of onshore exploration, development and production assets in the Egyptian Western Desert.

Capricorn is headquartered in Edinburgh, Scotland.

For further information please see: www.capricornenergy.com