Challenger Energy Group (LON:CEG) Trading Up 24.7% – Here’s Why

Challenger Energy Group PLC (LON:CEG)’s stock price was up 24.7% during trading on Tuesday . The company traded as high as GBX 11 ($0.15) and last traded at GBX 11 ($0.15). Approximately 1,624,286 shares changed hands during mid-day trading, an increase of 158% from the average daily volume of 630,305 shares. The stock had previously closed at GBX 8.82 ($0.12).

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a “no recommendation” rating on shares of Challenger Energy Group in a research note on Tuesday, September 9th.

Challenger Energy Group Stock Up 13.6%

The business has a 50-day moving average price of GBX 7.92 and a 200-day moving average price of GBX 8.30. The firm has a market capitalization of £31.16 million, a price-to-earnings ratio of -2,551.02 and a beta of 1.53.

Challenger Energy Group Company Profile

Challenger Energy focuses on high impact, globally material assets. Its flagship assets are in Uruguay, a new global exploration hotspot, where they have assets with multiple billion-barrel prospects. The Company holds two high impact offshore exploration licences (AREA OFF-1 and AREA OFF-3), totalling 19,000km2 (gross), making it one of the largest acreage holder offshore Uruguay, and is the only junior with a position in this exciting new exploration province.