Serica Energy (LON:SQZ) Trading Down 12.3% – Time to Sell?

Serica Energy plc (LON:SQZ) traded down 12.3% during mid-day trading on Tuesday . The company traded as low as GBX 121.98 ($1.53) and last traded at GBX 126.30 ($1.59). 22,102,988 shares were traded during trading, an increase of 981% from the average session volume of 2,044,137 shares. The stock had previously closed at GBX 144 ($1.81).

Analysts Set New Price Targets

A number of research analysts have weighed in on SQZ shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 200 ($2.52) price objective on shares of Serica Energy in a report on Thursday, January 23rd. Berenberg Bank restated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a research note on Tuesday.

Serica Energy Price Performance

The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The company has a market capitalization of £646.83 million, a price-to-earnings ratio of -90.46, a PEG ratio of 2.15 and a beta of 0.44. The stock’s 50-day simple moving average is GBX 141.90 and its two-hundred day simple moving average is GBX 135.60.

About Serica Energy

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.