Afentra (LON:AET) Stock Price Down 8.1% – Here’s Why

Shares of Afentra plc (LON:AET) fell 8.1% during mid-day trading on Tuesday . The company traded as low as GBX 47.63 ($0.65) and last traded at GBX 49.07 ($0.67). 4,101,193 shares traded hands during trading, an increase of 436% from the average session volume of 764,665 shares. The stock had previously closed at GBX 53.40 ($0.73).

Wall Street Analyst Weigh In

AET has been the subject of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a GBX 75 ($1.02) price objective on shares of Afentra in a report on Friday, April 25th. Shore Capital reissued a “buy” rating on shares of Afentra in a research note on Thursday, April 24th.

Afentra Price Performance

The firm has a market capitalization of £139.02 million, a P/E ratio of 703.14 and a beta of 0.10. The stock’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 quick ratio of 28.92 and a current ratio of 0.78.

Insider Activity at Afentra

In other news, insider Ian Richard Cloke purchased 48,694 shares of the company’s stock in a transaction dated 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). Over the last quarter, insiders bought 101,363 shares of company stock worth $4,057,457. Company insiders own 53.87% of the company’s stock.

About Afentra

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.