Canaccord Genuity Group Issues Pessimistic Forecast for Arrow Exploration (LON:AXL) Stock Price

Arrow Exploration (LON:AXL) had its price objective cut by stock analysts at Canaccord Genuity Group from GBX 21 to GBX 20 in a research note issued on Wednesday,London Stock Exchange reports. The brokerage currently has a “speculative buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 37.93% from the stock’s previous close.

Arrow Exploration Stock Performance

Shares of LON AXL traded down GBX 0.50 during midday trading on Wednesday, hitting GBX 14.50. The company’s stock had a trading volume of 525,203 shares, compared to its average volume of 500,662. The firm has a market capitalization of £41.45 million, a price-to-earnings ratio of 4.83 and a beta of 1.51. The company has a current ratio of 1.71, a quick ratio of 1.65 and a debt-to-equity ratio of 0.44. The stock has a fifty day moving average price of GBX 12.80 and a 200 day moving average price of GBX 12.98. Arrow Exploration has a one year low of GBX 10 and a one year high of GBX 24.

Arrow Exploration Company Profile

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.