Eco (Atlantic) Oil & Gas (LON:ECO) Shares Pass Below 50 Day Moving Average – Should You Sell?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s stock price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 11.66 ($0.15) and traded as low as GBX 9.26 ($0.12). Eco (Atlantic) Oil & Gas shares last traded at GBX 9.60 ($0.13), with a volume of 2,407,567 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 ($1.63) price target on shares of Eco (Atlantic) Oil & Gas in a report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Stock Performance

The company has a debt-to-equity ratio of 2.11, a quick ratio of 4.71 and a current ratio of 1.68. The firm has a market cap of £35.54 million, a P/E ratio of -241.65 and a beta of 1.95. The firm has a 50 day simple moving average of GBX 11.66 and a 200 day simple moving average of GBX 11.81.

Eco (Atlantic) Oil & Gas Company Profile

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.