Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 8.5% – Here’s What Happened

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price traded up 8.5% on Thursday . The company traded as high as GBX 11.20 ($0.14) and last traded at GBX 11.12 ($0.14). 2,349,430 shares changed hands during trading, an increase of 160% from the average session volume of 904,982 shares. The stock had previously closed at GBX 10.25 ($0.13).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 125 ($1.58) price target on shares of Eco (Atlantic) Oil & Gas in a research report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Stock Down 4.3 %

The company has a current ratio of 1.68, a quick ratio of 4.71 and a debt-to-equity ratio of 2.11. The company has a market capitalization of £40.72 million, a P/E ratio of -275.00 and a beta of 1.95. The stock has a 50 day moving average price of GBX 10.17 and a 200 day moving average price of GBX 11.52.

About Eco (Atlantic) Oil & Gas

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.