Rockhopper Exploration (LON:RKH) Trading Up 13.2% – Time to Buy?

Rockhopper Exploration plc (LON:RKH) shot up 13.2% during mid-day trading on Thursday . The company traded as high as GBX 35.06 ($0.43) and last traded at GBX 34.40 ($0.42). 9,515,748 shares changed hands during trading, an increase of 17% from the average session volume of 8,119,304 shares. The stock had previously closed at GBX 30.40 ($0.37).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “speculative buy” rating and set a GBX 37 ($0.45) target price on shares of Rockhopper Exploration in a report on Thursday, September 26th.

Rockhopper Exploration Price Performance

The company’s 50-day moving average is GBX 19.74 and its two-hundred day moving average is GBX 16.03. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.72 and a quick ratio of 2.94. The company has a market cap of £219.91 million, a P/E ratio of 1,720.00, a P/E/G ratio of 0.20 and a beta of 0.87.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin.