Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 20.5% – Here’s What Happened

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) was up 20.5% during mid-day trading on Tuesday . The stock traded as high as GBX 22 and last traded at GBX 22. Approximately 3,850,358 shares changed hands during mid-day trading, an increase of 225% from the average daily volume of 1,183,152 shares. The stock had previously closed at GBX 18.25.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 125.

Eco (Atlantic) Oil & Gas Stock Performance

The firm’s 50 day simple moving average is GBX 8.89 and its 200 day simple moving average is GBX 8.81. The firm has a market capitalization of £70.45 million, a price-to-earnings ratio of -24.83 and a beta of 1.95.

Eco (Atlantic) Oil & Gas Company Profile

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.