Pharos Energy (LON:PHAR) Shares Up 27.4% – What’s Next?

Pharos Energy plc (LON:PHAR) traded up 27.4% during mid-day trading on Monday . The stock 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 Analysts Forecast Growth

Separately, Shore Capital Group reaffirmed a “house stock” rating and issued a GBX 38 price objective on shares of Pharos Energy in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Pharos Energy presently has an average rating of “Buy” and an average target price of GBX 46.50.

Pharos Energy Stock Performance

The stock has a market capitalization of £130.05 million, a price-to-earnings ratio of -19.63, a PEG ratio of -0.02 and a beta of 0.32. The company’s 50 day moving average is GBX 26.76 and its 200 day moving average is GBX 25.81.

Insiders Place Their Bets

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

Pharos Energy Company Profile

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.