Challenger Energy Group (LON:CEG) Shares Up 7.4% – Time to Buy?

Shares of Challenger Energy Group PLC (LON:CEG) rose 7.4% during trading on Wednesday . The company traded as high as GBX 13.50 and last traded at GBX 13. Approximately 2,492,772 shares traded hands during trading, an increase of 288% from the average daily volume of 642,823 shares. The stock had previously closed at GBX 12.10.

Analysts Set New Price Targets

Separately, Shore Capital restated a “no recommendation” rating on shares of Challenger Energy Group in a research note on Tuesday, September 9th.

Challenger Energy Group Trading Up 7.4%

The company has a 50 day simple moving average of GBX 11.67 and a two-hundred day simple moving average of GBX 9.19. The firm has a market capitalization of £32.41 million, a P/E ratio of -7.93 and a beta of 1.53.

About Challenger Energy Group

Challenger Energy focuses on high impact, globally material assets. Its flagship assets are in Uruguay, a new global exploration hotspot, where they have assets with multiple billion-barrel prospects. The Company holds two high impact offshore exploration licences (AREA OFF-1 and AREA OFF-3), totalling 19,000km2 (gross), making it one of the largest acreage holder offshore Uruguay, and is the only junior with a position in this exciting new exploration province.