Pharos Energy (LON:PHAR) Shares Down 6.1%

Pharos Energy plc (LON:PHAR)’s stock price was down 6.1% on Thursday . The company traded as low as GBX 24.20 ($0.33) and last traded at GBX 24.88 ($0.34). Approximately 3,652,580 shares traded hands during trading, an increase of 174% from the average daily volume of 1,331,913 shares. The stock had previously closed at GBX 26.50 ($0.36).

A number of equities analysts have weighed in on PHAR shares. Peel Hunt reaffirmed a “buy” rating and set a GBX 60 ($0.81) price target on shares of Pharos Energy in a research note on Thursday, November 11th. Peel Hunt reissued a “buy” rating and issued a GBX 60 ($0.81) target price on shares of Pharos Energy in a research note on Thursday, November 11th.

The company’s 50 day moving average is GBX 23.12 and its 200-day moving average is GBX 22.36. The company has a current ratio of 1.33, a quick ratio of 1.00 and a debt-to-equity ratio of 19.18. The stock has a market cap of £117.72 million and a PE ratio of 2.58.

In other Pharos Energy news, insider Mike J. Watts sold 206,356 shares of the business’s stock in a transaction dated Thursday, January 13th. The shares were sold at an average price of GBX 25 ($0.34), for a total transaction of £51,589 ($70,027.15).

About Pharos Energy (LON:PHAR)

Pharos Energy plc engages in the exploration, development, and production of oil and gas properties. The company holds a 30.5% working interest in the Te Giac Trang Field of Block 16-1 located in the shallow water Cuu Long Basin, as well as a 25% working interest in the Ca Ngu Vang field of Block 9-2 situated in the shallow water Cuu Long Basin, offshore southern Vietnam; a 70% interest in the Blocks 125 & 126 located in the Phu Khanh Basin, offshore central Vietnam; and a 100% working interest in the onshore El Fayum concession in the Western Desert, Egypt.

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