Hurricane Energy (LON:HUR) Share Price Passes Below 200-Day Moving Average of $7.98

Hurricane Energy plc (LON:HURGet Rating)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 7.98 ($0.10) and traded as low as GBX 7.54 ($0.09). Hurricane Energy shares last traded at GBX 7.69 ($0.09), with a volume of 1,037,458 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Hurricane Energy to a “speculative buy” rating and set a GBX 9 ($0.11) price objective for the company in a research report on Friday, June 10th. Canaccord Genuity Group raised shares of Hurricane Energy from a “hold” rating to a “buy” rating in a research report on Friday, June 10th. Analysts at Canaccord Genuity upgraded exploration and production firm Hurricane Energy from ‘hold’ to ‘speculative buy’ on Friday, stating the company had “weathered significant storms” that had nearly left it shipwrecked. Canaccord Genuity said Hurricane’s fortunes appeared to have changed, with winds “gentle” and the waves “calm”, while all the elements also appeared to be “responding kindly” to the company’s wishes. It is clear how this transition has come about; good operational management, continued better-than-expected P6 well productivity, very high levels of operational performance from the Aoka Mizu FPSO, and much-improved oil prices,” said Canaccord. It really needed convergence of all these to put Hurricane in its current position, where the company has rapidly pivoted from a potential existential threat to a much brighter future with growth options.

Hurricane Energy Trading Up 0.4 %

The company has a current ratio of 0.97, a quick ratio of 0.71 and a debt-to-equity ratio of 107.23. The business’s 50-day simple moving average is GBX 7.40 and its two-hundred day simple moving average is GBX 7.98. The company has a market capitalization of £153.17 million and a PE ratio of 769.00.

Hurricane Energy Company Profile

(Get Rating)

Hurricane Energy plc, together with its subsidiaries, discovers, appraises, and develops hydrocarbon resources from fractured basement reservoirs on the United Kingdom Continental Shelf, West of Shetland. Its producing oil fields located in Clair, Foinaven, and Schiehallion; licences focused on the Rona Ridge, a major NE-SW trending basement; and assets comprise Lancaster, Lincoln, Halifax, and Warwick.

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