Rockhopper Exploration (LON:RKH) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Rockhopper Exploration plc (LON:RKH) shares crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of GBX 73.70 and traded as low as GBX 48.95. Rockhopper Exploration shares last traded at GBX 50.80, with a volume of 8,027,979 shares trading hands.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group upped their price objective on shares of Rockhopper Exploration from GBX 130 to GBX 135 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 135.

Rockhopper Exploration Price Performance

The company’s 50 day moving average price is GBX 67.04 and its 200-day moving average price is GBX 73.59. The company has a market capitalization of £611.69 million, a PE ratio of 41.75, a PEG ratio of 0.20 and a beta of 1.18. The company has a current ratio of 3.44, a quick ratio of 2.94 and a debt-to-equity ratio of 33.09.

About Rockhopper Exploration

Rockhopper Exploration plc operates as an oil and gas exploration and production company primarily in the United Kingdom. It engages in the exploration, appraisal, and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. The company holds 35% working interest in the PL003a, PL003b, PL004a, PL004b, PL004c, PL005, PL032, PL033 production licenses in North Falkland Basin. It also holds 100% working interest in the PL011, PL012, and PL014 production licenses in the South Falkland Basin.