Pharos Energy (LON:PHAR) Stock Price Up 14.3% Following Insider Buying Activity

Shares of Pharos Energy plc (LON:PHAR) traded up 14.3% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as GBX 24 ($0.30) and last traded at GBX 24 ($0.30). 1,821,245 shares traded hands during trading, an increase of 604% from the average session volume of 258,805 shares. The stock had previously closed at GBX 21 ($0.27).

Specifically, insider Sue Rivett bought 3,945 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were acquired at an average price of GBX 25 ($0.32) per share, for a total transaction of £986.25 ($1,247.47). In the last ninety days, insiders have purchased 12,083 shares of company stock valued at $293,937. Corporate insiders own 52.80% of the company’s stock.

Analyst Ratings Changes

Separately, Shore Capital restated a “house stock” rating on shares of Pharos Energy in a research report on Monday.

Pharos Energy Stock Down 4.6 %

The business’s 50-day moving average price is GBX 23.39 and its 200-day moving average price is GBX 21.90. The company has a quick ratio of 1.72, a current ratio of 2.02 and a debt-to-equity ratio of 14.99. The firm has a market capitalization of £96.08 million, a PE ratio of -255.54, a price-to-earnings-growth ratio of -0.02 and a beta of 1.60.

About Pharos Energy

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.