Afentra (LON:AET) Shares Down 8.1% – Here’s What Happened

Afentra plc (LON:AET)’s share price was down 8.1% during trading on Wednesday . The company traded as low as GBX 47.63 ($0.65) and last traded at GBX 49.07 ($0.67). Approximately 4,101,193 shares changed hands during trading, an increase of 436% from the average daily volume of 764,665 shares. The stock had previously closed at GBX 53.40 ($0.73).

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AET shares. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 75 ($1.02) price objective on shares of Afentra in a report on Friday, April 25th. Shore Capital restated a “buy” rating on shares of Afentra in a research report on Thursday, April 24th.

Afentra Price Performance

The company’s 50 day simple moving average is GBX 42.46 and its 200 day simple moving average is GBX 43.70. The company has a debt-to-equity ratio of 85.96, a current ratio of 0.78 and a quick ratio of 28.92. The stock has a market cap of £139.02 million, a P/E ratio of 703.14 and a beta of 0.10.

Insider Activity

In other Afentra news, insider Ian Richard Cloke acquired 48,694 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of GBX 40 ($0.54) per share, with a total value of £19,477.60 ($26,514.57). Insiders bought 101,363 shares of company stock valued at $4,057,457 in the last quarter. Company insiders own 53.87% of the company’s stock.

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.