Trap Oil Stock Rating Lowered by Canaccord Genuity (TRAP)
Trap Oil (LON:TRAP) was downgraded by research analysts at Canaccord Genuity to a “hold” rating in a report released on Wednesday, American Banking News reports. They currently have a GBX 10 ($0.16) price objective on the stock, down from their previous price objective of GBX 20 ($0.33). Canaccord Genuity’s target price indicates a potential upside of 11.11% from the company’s current price.
Shares of Trap Oil (LON:TRAP) traded down 2.70% on Wednesday, hitting GBX 9.00. 339,444 shares of the company’s stock traded hands. Trap Oil has a 1-year low of GBX 8.305 and a 1-year high of GBX 16.85. The stock has a 50-day moving average of GBX 9.46 and a 200-day moving average of GBX 10.24.
Trap Oil Group plc is a United Kingdom-based holding company. The Company is engaged in oil and gas exploration.
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