Afentra (LON:AET) Shares Up 1.5% – Here’s Why

Afentra plc (LON:AET) rose 1.5% on Friday . The company traded as high as GBX 64.40 and last traded at GBX 62.50. 164,740 shares were traded during trading, a decline of 86% from the average session volume of 1,170,500 shares. The stock had previously closed at GBX 61.60.

Analysts Set New Price Targets

AET has been the subject of several research reports. Shore Capital Group reaffirmed a “buy” rating on shares of Afentra in a research note on Thursday, April 23rd. Canaccord Genuity Group raised shares of Afentra to a “buy” rating and lifted their price target for the stock from GBX 80 to GBX 115 in a research note on Thursday, April 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 104.33.

Afentra Price Performance

The company has a debt-to-equity ratio of 34.12, a current ratio of 0.56 and a quick ratio of 28.92. The firm has a market capitalization of £168.20 million, a P/E ratio of -44.64 and a beta of 0.09. The firm’s 50 day simple moving average is GBX 64.35 and its two-hundred day simple moving average is GBX 64.71.

Insider Activity

In other news, insider Anastasia Deulina sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of GBX 59, for a total value of £59,000. Also, insider Ian Richard Cloke sold 32,833 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of GBX 61, for a total value of £20,028.13. Over the last three months, insiders have purchased 173,924 shares of company stock valued at $10,533,511 and have sold 164,833 shares valued at $9,854,813. Insiders own 35.61% of the company’s stock.

About Afentra

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland. Afentra plc was formerly known as Sterling Energy plc and changed its name to Afentra plc in May 2021. The company was incorporated in 1983 and is based in London, the United Kingdom.