Eco (Atlantic) Oil & Gas (LON:ECO) Shares Pass Below 50-Day Moving Average of $11.84

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s stock price crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 11.84 ($0.16) and traded as low as GBX 11 ($0.15). Eco (Atlantic) Oil & Gas shares last traded at GBX 11.25 ($0.15), with a volume of 2,294,815 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 ($1.67) price target on shares of Eco (Atlantic) Oil & Gas in a report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Trading Up 1.1 %

The stock has a market capitalization of £41.64 million, a PE ratio of -225.00 and a beta of 1.95. The company has a quick ratio of 4.71, a current ratio of 1.68 and a debt-to-equity ratio of 2.11. The business’s 50-day moving average is GBX 11.84 and its two-hundred day moving average is GBX 11.63.

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.