Afentra (LON:AET) Reaches New 1-Year High – Time to Buy?

Shares of Afentra plc (LON:AET) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 62.60 and last traded at GBX 60.27, with a volume of 855716 shares changing hands. The stock had previously closed at GBX 58.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AET. Shore Capital Group reiterated a “buy” rating and set a GBX 113 target price on shares of Afentra in a research report on Thursday, January 22nd. Canaccord Genuity Group restated a “buy” rating and set a GBX 90 price target on shares of Afentra in a research note on Monday, December 1st. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Afentra has a consensus rating of “Buy” and a consensus target price of GBX 96.

Afentra Trading Up 1.4%

The business has a 50 day simple moving average of GBX 47.63 and a 200 day simple moving average of GBX 46.10. The company has a debt-to-equity ratio of 35.42, a current ratio of 0.84 and a quick ratio of 28.92. The company has a market cap of £135.82 million, a price-to-earnings ratio of 4.66 and a beta of 0.04.

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.