Afentra (LON:AET) Shares Up 4.8% – Here’s What Happened

Afentra plc (LON:AET) shares rose 4.8% during mid-day trading on Tuesday . The company traded as high as GBX 76.90 and last traded at GBX 76.70. 681,511 shares were traded during mid-day trading, a decline of 39% from the average session volume of 1,117,229 shares. The stock had previously closed at GBX 73.20.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 125 price target on shares of Afentra in a research report on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 107.67.

Afentra Trading Up 4.8%

The company has a current ratio of 0.56, a quick ratio of 28.92 and a debt-to-equity ratio of 34.12. The business’s fifty day simple moving average is GBX 65.24 and its two-hundred day simple moving average is GBX 68.54. The stock has a market capitalization of £211.03 million, a P/E ratio of -54.79 and a beta of 0.09.

Insider Transactions at Afentra

In other news, insider Ian Richard Cloke sold 32,833 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of GBX 61, for a total transaction of £20,028.13. Also, insider Anastasia Deulina sold 100,000 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of GBX 59, for a total transaction of £59,000. In the last 90 days, insiders have purchased 173,924 shares of company stock worth $10,533,511 and have sold 164,833 shares worth $9,854,813. Insiders own 37.09% of the company’s stock.

Afentra Company Profile

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland. Afentra plc was formerly known as Sterling Energy plc and changed its name to Afentra plc in May 2021. The company was incorporated in 1983 and is based in London, the United Kingdom.