Pantheon Resources (LON:PANR) Shares Down 51.5% - Time to Sell?

Pantheon Resources Plc (LON:PANR - Get Free Report)'s stock price traded down 51.5% during mid-day trading on Monday . The stock traded as low as GBX 25.20 ($0.34) and last traded at GBX 25.33 ($0.34). 86,196,430 shares changed hands during trading, an increase of 908% from the average session volume of 8,550,886 shares. The stock had previously closed at GBX 52.20 ($0.69).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "speculative buy" rating and set a GBX 86 ($1.14) price objective on shares of Pantheon Resources in a report on Monday, March 24th.

Pantheon Resources Trading Up 4.8 %

The company has a debt-to-equity ratio of 7.35, a quick ratio of 20.28 and a current ratio of 0.79. The company has a market cap of £529.18 million, a price-to-earnings ratio of -34.57 and a beta of -0.36. The company's fifty day moving average is GBX 59.78 and its two-hundred day moving average is GBX 39.88.

Insider Buying and Selling

In other news, insider Linda Havard purchased 21,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were purchased at an average cost of GBX 70 ($0.93) per share, with a total value of £14,700 ($19,545.27). 10.15% of the stock is currently owned by insiders.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope ("ANS"), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska's Trans Alaska Pipeline System ("TAPS"). Pantheon's stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.