Rockhopper Exploration (LON:RKH) Shares Down 7.3% – Here’s Why

Rockhopper Exploration plc (LON:RKH)’s stock price fell 7.3% during mid-day trading on Wednesday . The company traded as low as GBX 30.30 ($0.38) and last traded at GBX 30.30 ($0.38). 15,009,329 shares changed hands during mid-day trading, an increase of 58% from the average session volume of 9,475,837 shares. The stock had previously closed at GBX 32.70 ($0.41).

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and set a GBX 37 ($0.46) price target on shares of Rockhopper Exploration in a research report on Thursday, September 26th.

Rockhopper Exploration Price Performance

The business’s 50-day simple moving average is GBX 18.54 and its 200 day simple moving average is GBX 15.66. The company has a market capitalization of £192.42 million, a P/E ratio of 1,505.00, a P/E/G ratio of 0.20 and a beta of 0.87. The company has a current ratio of 1.72, a quick ratio of 2.94 and a debt-to-equity ratio of 0.12.

Rockhopper Exploration Company Profile

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.