Serica Energy (LON:SQZ) Trading Down 11.1% - Here's Why

Serica Energy plc (LON:SQZ - Get Free Report)'s stock price fell 11.1% during mid-day trading on Tuesday . The company traded as low as GBX 126 ($1.59) and last traded at GBX 128 ($1.62). 16,470,336 shares traded hands during trading, an increase of 777% from the average session volume of 1,878,471 shares. The stock had previously closed at GBX 144 ($1.82).

Wall Street Analysts Forecast Growth

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

Serica Energy Trading Up 1.0 %

The firm has a market capitalization of £650.03 million, a price-to-earnings ratio of -90.90, a P/E/G ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a current ratio of 1.69 and a quick ratio of 1.22. The firm's 50-day simple moving average is GBX 141.64 and its 200 day simple moving average is GBX 135.65.

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.