Eco (Atlantic) Oil & Gas (LON:ECO) Stock Price Down 10.3% – Should You Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s stock price was down 10.3% during trading on Tuesday . The company traded as low as GBX 30 and last traded at GBX 30.05. Approximately 79,945,930 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 44,465,723 shares. The stock had previously closed at GBX 33.50.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 125 price target on shares of Eco (Atlantic) Oil & Gas in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 125.

Eco (Atlantic) Oil & Gas Stock Down 12.5%

The company’s 50 day simple moving average is GBX 14.03 and its 200-day simple moving average is GBX 10.33. The firm has a market cap of £92.36 million, a P/E ratio of -32.56 and a beta of 1.95.

About Eco (Atlantic) Oil & Gas

Eco Atlantic is a TSX-V and AIM-quoted Atlantic Margin-focused oil & gas exploration company with offshore license interests in Guyana, Namibia, and South Africa. Eco aims to deliver material value for its stakeholders through its role in the energy transition to explore for low carbon intensity oil and gas in stable emerging markets close to infrastructure.

Eco has interests in Guyana, South Africa and Namibia, proven jurisdictions with great hydrocarbon potential, and aims to deliver material value for its stakeholders through oil exploration, appraisal and development activities in these stable emerging markets, in partnership with major oil companies.