Pharos Energy (LON:PHAR) Stock Price Down 1.2% – Time to Sell?

Pharos Energy plc (LON:PHAR)’s stock price was down 1.2% on Thursday . The stock traded as low as GBX 25.20 and last traded at GBX 25.30. Approximately 724,011 shares changed hands during trading, an increase of 8% from the average session volume of 669,641 shares. The stock had previously closed at GBX 25.60.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reaffirmed a “house stock” rating and issued a GBX 38 price target on shares of Pharos Energy in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 46.50.

Pharos Energy Price Performance

The firm has a 50-day simple moving average of GBX 26.76 and a two-hundred day simple moving average of GBX 25.63. The company has a market cap of £104.77 million, a PE ratio of -15.81, a P/E/G ratio of -0.02 and a beta of 0.32.

Insiders Place Their Bets

In related news, insider Sue Rivett acquired 3,546 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average price of GBX 28 per share, for a total transaction of £992.88. Also, insider Katherine Roe bought 5,355 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was purchased at an average cost of GBX 28 per share, with a total value of £1,499.40. In the last ninety days, insiders have purchased 12,383 shares of company stock worth $346,724. Corporate insiders own 15.75% of the company’s stock.

Pharos Energy Company Profile

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.