Pharos Energy (LON:PHAR) Sets New 52-Week High – Here’s What Happened

Pharos Energy plc (LON:PHAR)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 30.90 and last traded at GBX 30.90, with a volume of 810599 shares traded. The stock had previously closed at GBX 28.90.

Wall Street Analysts Forecast Growth

Separately, Shore Capital Group reaffirmed a “house stock” rating and set a GBX 38 price objective on shares of Pharos Energy in a report on Monday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Pharos Energy presently has an average rating of “Buy” and an average target price of GBX 46.50.

Pharos Energy Stock Performance

The firm’s 50-day simple moving average is GBX 27.96 and its 200 day simple moving average is GBX 24.33. The company has a market cap of £127.96 million, a P/E ratio of -19.31, a PEG ratio of -0.02 and a beta of 0.30.

Insider Buying and Selling at Pharos Energy

In other Pharos Energy news, insider Katherine Roe bought 5,355 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of GBX 28 per share, for a total transaction of £1,499.40. Also, insider Sue Rivett bought 3,546 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were acquired at an average price of GBX 28 per share, with a total value of £992.88. Insiders have acquired a total of 12,383 shares of company stock valued at $346,724 in the last quarter. Corporate insiders own 15.75% of the company’s stock.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.