Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 11.7% – Time to Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price was up 11.7% during mid-day trading on Wednesday . The stock traded as high as GBX 12.74 ($0.16) and last traded at GBX 12.45 ($0.16). Approximately 1,356,864 shares were traded during mid-day trading, an increase of 49% from the average daily volume of 907,712 shares. The stock had previously closed at GBX 11.15 ($0.14).

Wall Street Analyst Weigh In

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 ($1.56) target price on shares of Eco (Atlantic) Oil & Gas in a research note on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Trading Down 0.9 %

The company has a quick ratio of 4.71, a current ratio of 1.68 and a debt-to-equity ratio of 2.11. The company has a market capitalization of £41.64 million, a PE ratio of -281.25 and a beta of 1.95. The stock’s fifty day moving average price is GBX 10.20 and its two-hundred day moving average price is GBX 11.41.

Eco (Atlantic) Oil & Gas Company Profile

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.