Pharos Energy (LON:PHAR) Shares Up 27.4% – Here’s What Happened

Pharos Energy plc (LON:PHAR) rose 27.4% during mid-day trading on Monday . The company traded as high as GBX 33.20 and last traded at GBX 31.60. 10,978,908 shares were traded during mid-day trading, an increase of 1,387% from the average session volume of 738,128 shares. The stock had previously closed at GBX 24.80.

Wall Street Analyst Weigh In

Separately, Shore Capital Group restated a “house stock” rating and set a GBX 38 price objective on shares of Pharos Energy in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 46.50.

Pharos Energy Trading Up 27.4%

The firm has a 50-day simple moving average of GBX 26.67 and a 200-day simple moving average of GBX 25.66. The firm has a market cap of £130.86 million, a P/E ratio of -19.75, a PEG ratio of -0.02 and a beta of 0.32.

Insider Activity

In related news, insider Katherine Roe bought 5,355 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of GBX 28 per share, for a total transaction of £1,499.40. Also, insider Sue Rivett bought 3,546 shares of Pharos Energy stock in a transaction on Wednesday, May 27th. The stock was purchased at an average price of GBX 28 per share, with a total value of £992.88. 15.75% of the stock is owned by insiders.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.