Pharos Energy (LON:PHAR) Shares Up 9.5% - Here's Why

Pharos Energy plc (LON:PHAR - Get Free Report) shares were up 9.5% during trading on Friday . The stock traded as high as GBX 23.50 ($0.30) and last traded at GBX 23.10 ($0.29). Approximately 471,313 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 269,517 shares. The stock had previously closed at GBX 21.10 ($0.27).

Analyst Ratings Changes

Separately, Shore Capital restated a "house stock" rating on shares of Pharos Energy in a research report on Friday, December 6th.

Pharos Energy Stock Performance

The company has a debt-to-equity ratio of 5.01, a current ratio of 2.84 and a quick ratio of 1.72. The business has a 50-day moving average of GBX 22.41 and a 200-day moving average of GBX 23.82. The company has a market capitalization of £97.02 million, a P/E ratio of -783.33, a P/E/G ratio of -0.02 and a beta of 1.61.

Insider Activity

In other Pharos Energy news, insider Sue Rivett acquired 3,944 shares of the business's stock in a transaction on Friday, September 27th. The shares were bought at an average price of GBX 25 ($0.31) per share, with a total value of £986 ($1,239.16). Also, insider Katherine Roe bought 6,348 shares of Pharos Energy stock in a transaction on Wednesday, November 27th. The stock was acquired at an average price of GBX 23 ($0.29) per share, for a total transaction of £1,460.04 ($1,834.91). Over the last quarter, insiders have bought 16,695 shares of company stock valued at $391,873. 51.33% of the stock is currently owned by company insiders.

Pharos Energy Company Profile

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.