Challenger Energy Group (LON:CEG) Trading 9.9% Higher – Still a Buy?

Challenger Energy Group PLC (LON:CEG)’s stock price shot up 9.9% during trading on Wednesday . The company traded as high as GBX 13.50 and last traded at GBX 13.30. 2,791,490 shares changed hands during mid-day trading, an increase of 333% from the average session volume of 644,094 shares. The stock had previously closed at GBX 12.10.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a “no recommendation” rating on shares of Challenger Energy Group in a research note on Tuesday, September 9th.

Challenger Energy Group Stock Down 3.8%

The firm’s fifty day moving average price is GBX 11.74 and its 200-day moving average price is GBX 9.25. The stock has a market cap of £31.16 million, a P/E ratio of -7.62 and a beta of 1.53.

Challenger Energy Group Company Profile

Challenger Energy focuses on high impact, globally material assets. Its flagship assets are in Uruguay, a new global exploration hotspot, where they have assets with multiple billion-barrel prospects. The Company holds two high impact offshore exploration licences (AREA OFF-1 and AREA OFF-3), totalling 19,000km2 (gross), making it one of the largest acreage holder offshore Uruguay, and is the only junior with a position in this exciting new exploration province.