Harbour Energy (OTCMKTS:HBRIY) Stock Falls 5.8% – Here’s Why

Shares of Harbour Energy PLC Sponsored ADR (OTCMKTS:HBRIY) traded down 5.8% during trading on Monday. The company traded as low as $3.88 and last traded at $3.88. Approximately 31,588 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 42,537 shares. The stock had previously closed at $4.12.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HBRIY shares. Barclays reiterated an “overweight” rating on shares of Harbour Energy in a research note on Monday, October 5th. The Goldman Sachs Group upgraded shares of Harbour Energy from a “hold” rating to a “buy” rating in a research report on Thursday, September 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Harbour Energy Trading Down 5.6%

The company has a debt-to-equity ratio of 0.88, a current ratio of 0.70 and a quick ratio of 0.59. The firm has a 50 day moving average of $3.75 and a two-hundred day moving average of $3.59.

Harbour Energy Company Profile

Harbour Energy plc is an independent oil and gas company headquartered in London, England. The company explores for, develops and produces hydrocarbons, with activities spanning the upstream energy value chain. Its portfolio includes oil and natural gas assets, and it also undertakes decommissioning work on mature fields and related infrastructure.

Harbour has historically maintained a significant presence in the United Kingdom’s North Sea and has expanded its international operations through acquisitions and new developments.