Afentra (LON:AET) Stock Price Up 14.6% – Here’s Why

Afentra plc (LON:AET)’s share price rose 14.6% during trading on Tuesday . The company traded as high as GBX 74.10 and last traded at GBX 72.80. 2,767,669 shares were traded during mid-day trading, an increase of 141% from the average session volume of 1,147,110 shares. The stock had previously closed at GBX 63.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AET shares. Shore Capital Group restated a “buy” rating on shares of Afentra in a report on Thursday, April 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 125 price target on shares of Afentra in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 107.67.

Afentra Trading Up 1.4%

The stock has a market capitalization of £201.40 million, a PE ratio of -52.29 and a beta of 0.09. The company has a quick ratio of 28.92, a current ratio of 0.56 and a debt-to-equity ratio of 34.12. The firm has a 50 day moving average price of GBX 63.11 and a 200 day moving average price of GBX 65.97.

Insiders Place Their Bets

In other news, insider Ian Richard Cloke sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of GBX 61, for a total value of £19,520. Also, insider Anastasia Deulina sold 100,000 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of GBX 59, for a total value of £59,000. In the last ninety days, insiders bought 173,924 shares of company stock valued at $10,533,511 and sold 164,833 shares valued at $9,854,813. 37.09% of the stock is currently owned by insiders.

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.