Challenger Energy Group (LON:CEG) Shares Up 7.4% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

Challenger Energy Group Trading Down 3.8%

The firm has a market capitalization of £31.16 million, a PE ratio of -7.62 and a beta of 1.53. The firm’s fifty day moving average price is GBX 11.77 and its 200 day moving average price is GBX 9.28.

Challenger Energy Group Company Profile

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.