Serica Energy (LON:SQZ) Trading Down 12% – What’s Next?

Serica Energy plc (LON:SQZ) dropped 12% during mid-day trading on Tuesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 126.70 ($1.60). Approximately 22,759,906 shares changed hands during trading, an increase of 1,003% from the average daily volume of 2,063,458 shares. The stock had previously closed at GBX 144 ($1.82).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a report on Thursday, January 23rd.

Serica Energy Trading Down 12.0 %

The stock has a fifty day moving average of GBX 141.93 and a 200 day moving average of GBX 135.65. The company has a market capitalization of £624.41 million, a P/E ratio of -87.32, a PEG ratio of 2.15 and a beta of 0.44. The company has a debt-to-equity ratio of 26.31, a quick ratio of 1.22 and a current ratio of 1.69.

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.