Savannah Energy (LON:SAVE) Shares Up 12.5% – Here’s Why

Savannah Energy PLC (LON:SAVE)’s stock price was up 12.5% during mid-day trading on Friday . The company 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 Trading Up 12.5%

The company has a fifty day moving average of GBX 7.37 and a two-hundred day moving average of GBX 6.98. The company has a quick ratio of 0.57, a current ratio of 0.76 and a debt-to-equity ratio of 228.16. The stock has a market capitalization of £209.94 million, a price-to-earnings ratio of 1.24 and a beta of 0.86.

Insider Buying and Selling at Savannah Energy

In other news, insider Marco Iannotti sold 1,500,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of GBX 8, for a total transaction of £120,000. 14.84% of the stock is currently owned by insiders.

About Savannah Energy

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.