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

Challenger Energy Group PLC (LON:CEG) shares rose 15.7% on Friday . The company traded as high as GBX 14 ($0.19) and last traded at GBX 13.30 ($0.18). Approximately 4,865,418 shares were traded during 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 Analyst Weigh In

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

Challenger Energy Group Trading Down 2.3%

The business’s fifty day moving average price is GBX 8.82 and its 200 day moving average price is GBX 8.51. The firm has a market capitalization of £32.41 million, a price-to-earnings ratio of -792.68 and a beta of 1.53.

Challenger Energy Group Company Profile

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.