Eco (Atlantic) Oil & Gas (LON:ECO) Shares Down 10.3% – Time to Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) fell 10.3% on Tuesday . The company traded as low as GBX 30 and last traded at GBX 30.05. 79,945,930 shares changed hands during trading, an increase of 80% from the average session volume of 44,465,723 shares. The stock had previously closed at GBX 33.50.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 125 price objective on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, November 19th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 125.

Eco (Atlantic) Oil & Gas Price Performance

The company has a market cap of £92.36 million, a PE ratio of -32.56 and a beta of 1.95. The business has a fifty day simple moving average of GBX 14.03 and a two-hundred day simple moving average of GBX 10.33.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.

Eco has interests in Guyana, South Africa and Namibia, proven jurisdictions with great hydrocarbon potential, and aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in these stable emerging markets, in partnership with major oil companies.