Serica Energy (LON:SQZ) Trading Down 10.4% - Here's What Happened

Serica Energy plc (LON:SQZ - Get Free Report) shares fell 10.4% during trading on Tuesday . The stock traded as low as GBX 121.98 ($1.54) and last traded at GBX 129.10 ($1.63). 23,878,297 shares traded hands during mid-day trading, an increase of 1,039% from the average session volume of 2,096,352 shares. The stock had previously closed at GBX 144 ($1.82).

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SQZ. Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 200 ($2.53) price objective on shares of Serica Energy in a research note on Thursday, January 23rd. Berenberg Bank reiterated a "buy" rating and set a GBX 200 ($2.53) price objective on shares of Serica Energy in a research note on Tuesday.

Serica Energy Price Performance

The business has a fifty day moving average of GBX 141.64 and a 200-day moving average of GBX 135.65. The firm has a market cap of £650.03 million, a PE ratio of -90.90, a PEG ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31.

About Serica Energy

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.