Challenger Energy Group (LON:CEG) Stock Price Up 9.9% – What’s Next?

Shares of Challenger Energy Group PLC (LON:CEG) rose 9.9% during mid-day trading on Wednesday . The stock traded as high as GBX 13.50 and last traded at GBX 13.30. Approximately 2,791,490 shares changed hands during mid-day trading, an increase of 333% from the average daily volume of 644,094 shares. The stock had previously closed at GBX 12.10.

Analysts Set New Price Targets

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

Challenger Energy Group Price Performance

The company’s 50-day simple moving average is GBX 11.67 and its two-hundred day simple moving average is GBX 9.19. The firm has a market capitalization of £33.16 million, a P/E ratio of -8.11 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.