Pantheon Resources (LON:PANR) Stock Price Down 50.5% – Here’s Why

Pantheon Resources Plc (LON:PANR) dropped 50.5% during mid-day trading on Tuesday . The company traded as low as GBX 7.69 and last traded at GBX 9. Approximately 433,062,656 shares traded hands during trading, an increase of 3,958% from the average daily volume of 10,671,832 shares. The stock had previously closed at GBX 18.20.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their target price on shares of Pantheon Resources from GBX 70 to GBX 66 and set a “speculative buy” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 66.

Pantheon Resources Stock Performance

The stock has a market cap of £127.34 million, a P/E ratio of -9.45 and a beta of -0.36. The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The stock’s 50 day simple moving average is GBX 23.62 and its two-hundred day simple moving average is GBX 25.05.

About Pantheon Resources

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing its 100% owned Ahpun and Kodiak fields located on State of Alaska land on the North Slope, onshore USA. Independently certified best estimate contingent recoverable resources attributable to these projects currently total c. 1.6 billion barrels of ANS crude and 6.6 Tcf of associated natural gas. The Company owns 100% working interest in c. 259,000 acres.

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of approximately $5 per barrel of recoverable resources by end 2028.