Rockhopper Exploration (LON:RKH) Trading 13.2% Higher - Here's Why

Rockhopper Exploration plc (LON:RKH - Get Free Report)'s share price shot up 13.2% during trading on Friday . 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 mid-day 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).

Analysts Set New Price Targets

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

Rockhopper Exploration Price Performance

The business's 50-day moving average price is GBX 19.31 and its 200-day moving average price is GBX 15.90. The firm has a market capitalization of £219.91 million, a PE ratio of 1,720.00, a price-to-earnings-growth ratio of 0.20 and a beta of 0.87. The company has a quick ratio of 2.94, a current ratio of 1.72 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.