Serica Energy (LON:SQZ) Trading Down 10.6% – Here’s Why

Serica Energy plc (LON:SQZ) fell 10.6% during mid-day trading on Tuesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 128.80 ($1.62). 23,487,631 shares were traded during trading, an increase of 1,027% from the average session volume of 2,084,862 shares. The stock had previously closed at GBX 144 ($1.82).

Analyst Ratings Changes

A number of brokerages recently issued reports on SQZ. Berenberg Bank reissued a “buy” rating and set a GBX 200 ($2.52) price target on shares of Serica Energy in a research report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a GBX 200 ($2.52) price target on shares of Serica Energy in a research report on Thursday, January 23rd.

Serica Energy Stock Performance

The firm has a market capitalization of £629.83 million, a P/E ratio of -88.08, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a current ratio of 1.69, a quick ratio of 1.22 and a debt-to-equity ratio of 26.31. The business’s 50 day simple moving average is GBX 141.93 and its two-hundred day simple moving average is GBX 135.65.

Serica Energy Company Profile

Serica Energy plc, an upstream oil and gas company, identifies, acquires, explores, exploits, and produces oil and gas reserves in the United Kingdom. The company holds 100% interest in the Keith oil field; 98% interest in the Bruce field; and 50% interest in the Rhum gas field located in the Northern North Sea, as well as 18% non-operating interest in the Erskine field located in Central North Sea.