Pantheon Resources (LON:PANR) Shares Down 50.5% – Should You Sell?

Pantheon Resources Plc (LON:PANR) shares dropped 50.5% during trading on Monday . The company traded as low as GBX 7.69 and last traded at GBX 9. Approximately 433,062,656 shares traded hands during mid-day trading, an increase of 3,958% from the average daily volume of 10,671,832 shares. The stock had previously closed at GBX 18.20.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their price objective on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating for the company in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of GBX 66.

Pantheon Resources Price Performance

The company has a quick ratio of 20.28, a current ratio of 0.79 and a debt-to-equity ratio of 7.35. The company’s 50 day moving average is GBX 23.62 and its 200 day moving average is GBX 25.05. The firm has a market capitalization of £127.34 million, a price-to-earnings ratio of -9.45 and a beta of -0.36.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.