Pantheon Resources (LON:PANR) Shares Down 50.5% – Here’s What Happened

Pantheon Resources Plc (LON:PANR)’s share price dropped 50.5% during mid-day trading on Monday . The stock traded as low as GBX 7.69 and last traded at GBX 9. Approximately 433,062,656 shares were traded during trading, an increase of 3,958% from the average daily volume of 10,671,832 shares. The stock had previously closed at GBX 18.20.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their price target on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a research note on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pantheon Resources presently has an average rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Stock Performance

The firm’s 50-day simple moving average is GBX 23.62 and its 200-day simple moving average is GBX 25.05. The firm has a market capitalization of £127.34 million, a PE ratio of -9.45 and a beta of -0.36. The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.