Challenger Energy Group (LON:CEG) Stock Price Up 15.7% – Time to Buy?

Shares of Challenger Energy Group PLC (LON:CEG) rose 15.7% on Thursday . The company traded as high as GBX 14 ($0.19) and last traded at GBX 13.30 ($0.18). Approximately 4,865,418 shares traded hands during mid-day trading, an increase of 657% from the average daily volume of 642,474 shares. The stock had previously closed at GBX 11.50 ($0.15).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “no recommendation” rating on shares of Challenger Energy Group in a report on Tuesday, September 9th.

Challenger Energy Group Trading Up 15.7%

The firm has a fifty day moving average price of GBX 8.72 and a 200 day moving average price of GBX 8.49. The firm has a market cap of £33.16 million, a PE ratio of -810.98 and a beta of 1.53.

About Challenger Energy Group

Challenger Energy focuses on high impact, globally material assets. Its flagship assets are in Uruguay, a new global exploration hotspot, where they have assets with multiple billion-barrel prospects. The Company holds two high impact offshore exploration licences (AREA OFF-1 and AREA OFF-3), totalling 19,000km2 (gross), making it one of the largest acreage holder offshore Uruguay, and is the only junior with a position in this exciting new exploration province.