Chariot (LON:CHAR) Trading Up 17.5% – Here’s Why

Chariot Limited (LON:CHAR) shares were up 17.5% during mid-day trading on Thursday . The stock traded as high as GBX 1.56 ($0.02) and last traded at GBX 1.56 ($0.02). Approximately 3,706,100 shares traded hands during trading, an increase of 22% from the average daily volume of 3,036,423 shares. The stock had previously closed at GBX 1.33 ($0.02).

Chariot Stock Up 1.6%

The company has a quick ratio of 3.74, a current ratio of 1.01 and a debt-to-equity ratio of 2.00. The firm has a market cap of £20.36 million, a PE ratio of -1.13 and a beta of 0.48. The firm’s 50 day moving average is GBX 1.43 and its 200-day moving average is GBX 1.47.

Insider Activity at Chariot

In related news, insider Adonis Pouroulis purchased 47,619,048 shares of the company’s stock in a transaction that occurred on Thursday, June 19th. The stock was purchased at an average price of GBX 1 per share, with a total value of £476,190.48. Also, insider Duncan Wallace purchased 1,428,571 shares of the company’s stock in a transaction that occurred on Thursday, June 19th. The shares were bought at an average cost of GBX 1 per share, with a total value of £14,285.71. Over the last three months, insiders bought 50,475,364 shares of company stock worth $50,475,364. 17.54% of the stock is currently owned by company insiders.

About Chariot

Chariot is an African focused transitional energy group with two business streams, Transitional Gas and Transitional Power.

Chariot Transitional Gas is focussed on a high value, low risk gas development project offshore Morocco with strong ESG credentials in a fast-growing emerging economy with a clear route to early monetisation, delivery of free cashflow and material exploration upside.