Arrow Exploration (LON:AXL) Trading 20% Higher

Arrow Exploration Corp. (LON:AXL) rose 20% during mid-day trading on Wednesday . The stock traded as high as GBX 24 ($0.30) and last traded at GBX 24 ($0.30). Approximately 4,952,594 shares traded hands during trading, an increase of 153% from the average daily volume of 1,958,821 shares. The stock had previously closed at GBX 20 ($0.25).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 42 ($0.53) price target on shares of Arrow Exploration in a research report on Thursday, May 30th.

Arrow Exploration Stock Up 20.8 %

The company has a quick ratio of 1.65, a current ratio of 1.67 and a debt-to-equity ratio of 0.77. The company has a fifty day simple moving average of GBX 20.98 and a 200-day simple moving average of GBX 20.52. The firm has a market cap of £69.06 million, a P/E ratio of 676.67 and a beta of 1.47.

About Arrow Exploration

Arrow Exploration Corp., a junior oil and gas company, engages in the acquisition, exploration, development, and production of oil and gas properties in Colombia and Western Canada. Arrow Exploration Corp. is headquartered in Calgary, Canada.