Challenger Energy Group (LON:CEG) Trading 15.7% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Challenger Energy Group Stock Down 2.3%

The stock’s 50-day moving average is GBX 8.82 and its 200 day moving average is GBX 8.51. The stock has a market capitalization of £32.41 million, a PE 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.