Afentra (LON:AET) Reaches New 1-Year High – Time to Buy?

Afentra plc (LON:AET) shares reached a new 52-week high during trading on Monday . The stock traded as high as GBX 85 and last traded at GBX 82.80, with a volume of 1791060 shares changing hands. The stock had previously closed at GBX 79.40.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Canaccord Genuity Group raised their price objective on Afentra from GBX 94 to GBX 100 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Shore Capital Group reissued a “buy” rating on shares of Afentra in a research note on Friday, March 20th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 99.33.

Afentra Price Performance

The company has a market cap of £187.26 million, a P/E ratio of 6.42 and a beta of 0.09. The firm’s 50-day moving average is GBX 56.84 and its two-hundred day moving average is GBX 48.28. The company has a debt-to-equity ratio of 35.42, a current ratio of 0.84 and a quick ratio of 28.92.

About Afentra

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland. Afentra plc was formerly known as Sterling Energy plc and changed its name to Afentra plc in May 2021. The company was incorporated in 1983 and is based in London, the United Kingdom.