Savannah Energy (LON:SAVE) Trading 12.5% Higher – Time to Buy?

Savannah Energy PLC (LON:SAVE)’s stock price rose 12.5% during mid-day trading on Friday . The stock traded as high as GBX 9.95 and last traded at GBX 9.90. Approximately 1,082,668 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,649,505 shares. The stock had previously closed at GBX 8.80.

Savannah Energy Stock Up 12.5%

The firm’s fifty day moving average is GBX 7.43 and its two-hundred day moving average is GBX 7. The firm has a market cap of £209.94 million, a price-to-earnings ratio of 1.24 and a beta of 0.86. The company has a debt-to-equity ratio of 228.16, a current ratio of 0.76 and a quick ratio of 0.57.

Insider Buying and Selling at Savannah Energy

In other news, insider Marco Iannotti sold 1,500,000 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of GBX 8, for a total value of £120,000. Corporate insiders own 14.84% of the company’s stock.

Savannah Energy Company Profile

Savannah Energy PLC is a British independent energy company focused around the delivery of Projects that Matter in Africa. We are active in both hydrocarbon and power projects.

With over 200 MMboe of hydrocarbon resources in Nigeria and Niger, and a Reserves and Resources life of over 26 years, Savannah aspires to play a long-term role in supplying the energy Africa needs. In Nigeria, Savannah has a significant controlling interest in a large-scale integrated gas production and distribution business which is capable of supplying gas to enable approximately 17% of Nigeria’s available thermal power generation capacity.