Eco (Atlantic) Oil & Gas (LON:ECO) Trading 9.4% Higher

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s stock price shot up 9.4% during mid-day trading on Friday . The company traded as high as GBX 13.67 ($0.18) and last traded at GBX 13.67 ($0.18). 1,209,909 shares changed hands during trading, an increase of 35% from the average session volume of 898,676 shares. The stock had previously closed at GBX 12.50 ($0.16).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 125 ($1.65) price target on shares of Eco (Atlantic) Oil & Gas in a research report on Thursday.

Eco (Atlantic) Oil & Gas Trading Up 5.6 %

The stock has a market capitalization of £48.86 million, a P/E ratio of -330.00 and a beta of 1.91. The company has a current ratio of 2.48, a quick ratio of 4.71 and a debt-to-equity ratio of 2.11. The business has a 50-day moving average price of GBX 12.16 and a two-hundred day moving average price of GBX 11.41.

About Eco (Atlantic) Oil & Gas

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.