Magellan Petroleum Corp. (MPET) Trading Down 2.9%
Magellan Petroleum Corp. (NASDAQ:MPET) was down 2.9% during mid-day trading on Wednesday . The company traded as low as $5.35 and last traded at $5.40, with a volume of 67,134 shares changing hands. The stock had previously closed at $5.56.
Separately, S&P Equity Research dropped their price target on Magellan Petroleum Corp. from $4.00 to $3.40 in a research report on Monday, August 8th.
The firm has a 50-day moving average of $5.15 and a 200 day moving average of $2.15. The firm’s market capitalization is $32.33 million.
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About Magellan Petroleum Corp.
Magellan Petroleum Corporation is an oil and gas exploration and production company, which focuses on the development of carbon dioxide (CO2) enhanced oil recovery (CO2-EOR) projects in the Rocky Mountain region. The Company owns exploration acreage in the Weald Basin, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory in Australia.
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