Eco (Atlantic) Oil & Gas (LON:ECO) Shares Down 15.2% – Here’s What Happened

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price traded down 15.2% on Thursday . The stock traded as low as GBX 16.50 and last traded at GBX 16.96. 30,402,061 shares traded hands during mid-day trading, an increase of 2,334% from the average session volume of 1,248,906 shares. The stock had previously closed at GBX 20.

Analyst Ratings Changes

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

Eco (Atlantic) Oil & Gas Stock Performance

The stock has a market capitalization of £55.17 million, a PE ratio of -19.44 and a beta of 1.95. The business’s 50-day moving average is GBX 8.20 and its two-hundred day moving average is GBX 8.62.

Eco (Atlantic) Oil & Gas Company Profile

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.