Pantheon Resources (LON:PANR) Shares Down 50.5% – Time to Sell?

Pantheon Resources Plc (LON:PANR) shares dropped 50.5% 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.

Wall Street Analyst Weigh In

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

Pantheon Resources Price Performance

The company’s 50 day moving average price is GBX 23.62 and its two-hundred day moving average price is GBX 25.05. The company has a current ratio of 0.79, a quick ratio of 20.28 and a debt-to-equity ratio of 7.35. The stock has a market cap of £127.34 million, a P/E ratio of -9.45 and a beta of -0.36.

About Pantheon Resources

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.