Pharos Energy (LON:PHAR) Trading 9.5% Higher – Still a Buy?

Pharos Energy plc (LON:PHAR)’s stock price rose 9.5% during trading on Friday . The stock traded as high as GBX 23.50 ($0.29) and last traded at GBX 23.10 ($0.29). Approximately 471,313 shares traded hands during trading, an increase of 75% from the average daily volume of 269,517 shares. The stock had previously closed at GBX 21.10 ($0.26).

Wall Street Analysts Forecast Growth

Separately, Shore Capital restated a “house stock” rating on shares of Pharos Energy in a research note on Friday, December 6th.

Pharos Energy Price Performance

The firm has a market capitalization of £97.02 million, a price-to-earnings ratio of -783.33, a PEG ratio of -0.02 and a beta of 1.61. The company has a current ratio of 2.84, a quick ratio of 1.72 and a debt-to-equity ratio of 5.01. The business has a 50-day moving average price of GBX 22.42 and a two-hundred day moving average price of GBX 23.82.

Insider Activity

In related news, insider Sue Rivett bought 3,944 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of GBX 25 ($0.31) per share, with a total value of £986 ($1,232.35). Also, insider Katherine Roe acquired 6,348 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were bought at an average price of GBX 23 ($0.29) per share, for a total transaction of £1,460.04 ($1,824.82). Over the last ninety days, insiders have acquired 16,695 shares of company stock valued at $391,873. Company insiders own 51.33% of the company’s stock.

Pharos Energy Company Profile

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.