Pharos Energy (LON:PHAR) Trading Up 20.6% – Should You Buy?

Pharos Energy plc (LON:PHAR)’s share price was up 20.6% during trading on Tuesday . The company traded as high as GBX 23.50 ($0.30) and last traded at GBX 22.97 ($0.30). Approximately 709,355 shares changed hands during mid-day trading, an increase of 116% from the average daily volume of 328,853 shares. The stock had previously closed at GBX 19.05 ($0.25).

Wall Street Analyst Weigh In

Separately, Shore Capital reissued a “house stock” rating on shares of Pharos Energy in a report on Thursday, January 23rd.

Pharos Energy Price Performance

The firm has a market capitalization of £114.56 million, a price-to-earnings ratio of -2.44, a PEG ratio of -0.02 and a beta of 1.61. The company has a current ratio of 2.02, a quick ratio of 1.72 and a debt-to-equity ratio of 14.99. The business has a 50-day moving average price of GBX 24.13 and a two-hundred day moving average price of GBX 23.61.

Insiders Place Their Bets

In other Pharos Energy news, insider Sue Rivett acquired 4,123 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of GBX 24 ($0.31) per share, with a total value of £989.52 ($1,278.61). Insiders have purchased 11,922 shares of company stock valued at $293,724 over the last three months. Company insiders own 51.33% of the company’s stock.

About Pharos Energy

Pharos Energy is an independent oil and gas exploration and production company with a focus on sustainable growth and returns to stakeholders.
Pharos is listed on the London Stock Exchange, we have production, development and exploration interests in Egypt, Israel and Vietnam.