Arrow Exploration (LON:AXL) Shares Up 0.7% – Time to Buy?

Arrow Exploration Corp. (LON:AXL)’s stock price shot up 0.7% during mid-day trading on Thursday . The company traded as high as GBX 22.75 and last traded at GBX 22.65. 399,507 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,018,920 shares. The stock had previously closed at GBX 22.50.

Analyst Ratings Changes

Separately, Canaccord Genuity Group upped their target price on shares of Arrow Exploration from GBX 27 to GBX 30 and gave the company a “speculative buy” rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 30.

Arrow Exploration Trading Up 2.5%

The company has a market cap of £70.32 million, a PE ratio of 30.27 and a beta of 1.51. The business has a 50 day simple moving average of GBX 21.91 and a two-hundred day simple moving average of GBX 17.18. The company has a current ratio of 1.16, a quick ratio of 1.65 and a debt-to-equity ratio of 0.25.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin. The asset base is predominantly operated with high working interests, and the Brent-linked light oil pricing exposure combines with low royalties to yield attractive potential operating margins.