Canaccord Genuity Group Cuts Arrow Exploration (LON:AXL) Price Target to GBX 44

Arrow Exploration (LON:AXL - Free Report) had its price objective reduced by Canaccord Genuity Group from GBX 50 ($0.62) to GBX 44 ($0.54) in a research report released on Friday, MarketBeat.com reports. They currently have a buy rating on the stock.

Separately, Canaccord Genuity Group restated a "buy" rating and set a GBX 50 ($0.62) price target on shares of Arrow Exploration in a research note on Tuesday, December 17th.

Arrow Exploration Stock Performance

AXL traded up GBX 0.10 ($0.00) on Friday, hitting GBX 19.60 ($0.24). 1,946,579 shares of the stock traded hands, compared to its average volume of 1,246,390. Arrow Exploration has a 52 week low of GBX 17.50 ($0.22) and a 52 week high of GBX 33.50 ($0.41). The company has a current ratio of 1.50, a quick ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of £56.03 million, a PE ratio of 676.67 and a beta of 1.51. The business has a fifty day moving average price of GBX 23.65 and a two-hundred day moving average price of GBX 26.26.

Arrow Exploration Company Profile

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company's business plan is to expand oil production from some of Colombia's most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin.