Afentra (LON:AET) Shares Up 2.8% – Here’s Why

Afentra plc (LON:AET) traded up 2.8% during mid-day trading on Friday . The company traded as high as GBX 51.80 ($0.63) and last traded at GBX 50.80 ($0.62). 1,268,877 shares traded hands during mid-day trading, an increase of 85% from the average session volume of 684,057 shares. The stock had previously closed at GBX 49.40 ($0.60).

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AET. Canaccord Genuity Group assumed coverage on Afentra in a research note on Thursday, September 19th. They issued a “buy” rating and a GBX 80 ($0.98) price objective on the stock. Shore Capital reissued a “buy” rating on shares of Afentra in a report on Thursday, November 7th.

Afentra Stock Performance

The business has a 50 day moving average of GBX 46.03 and a 200-day moving average of GBX 49.03. The company has a debt-to-equity ratio of 85.96, a quick ratio of 28.92 and a current ratio of 0.78. The company has a market capitalization of £114.89 million, a P/E ratio of 725.71 and a beta of 0.10.

Afentra Company Profile

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland.