Arrow Exploration (LON:AXL) Sets New 52-Week High – Time to Buy?

Arrow Exploration Corp. (LON:AXL) shares reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 24 and last traded at GBX 23.50, with a volume of 2263902 shares. The stock had previously closed at GBX 21.75.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their target price on Arrow Exploration from GBX 28 to GBX 27 and set a “speculative buy” rating for the company in a research report on Friday, May 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Arrow Exploration currently has a consensus rating of “Buy” and a consensus target price of GBX 27.

Arrow Exploration Stock Performance

The stock has a market cap of £67.18 million, a PE ratio of 7.31 and a beta of 1.51. The firm’s 50-day moving average is GBX 20.88 and its 200 day moving average is GBX 16.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.65 and a current ratio of 1.06.

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.