Rockhopper Exploration (LON:RKH) Shares Pass Above 200-Day Moving Average – What’s Next?

Rockhopper Exploration plc (LON:RKH)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 76.28 and traded as high as GBX 82.40. Rockhopper Exploration shares last traded at GBX 79, with a volume of 5,823,871 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their price target on Rockhopper Exploration from GBX 78 to GBX 113 and gave the stock a “buy” rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of GBX 113.

Rockhopper Exploration Price Performance

The stock has a fifty day moving average price of GBX 80.51 and a 200 day moving average price of GBX 76.28. The company has a debt-to-equity ratio of 18.89, a current ratio of 2.07 and a quick ratio of 2.94. The stock has a market capitalization of £678.76 million, a P/E ratio of -7.01, a price-to-earnings-growth ratio of 0.20 and a beta of 0.01.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.