Eco Atlantic Oil & Gas Ltd (LON:ECO) shares rose 3.8% during mid-day trading on Tuesday . The stock traded as high as GBX 142 ($1.86) and last traded at GBX 135 ($1.76), approximately 2,007,333 shares were traded during trading. An increase of 725% from the average daily volume of 243,202 shares. The stock had previously closed at GBX 130 ($1.70).
Separately, Berenberg Bank restated a “buy” rating and set a GBX 110 ($1.44) target price on shares of Eco Atlantic Oil & Gas in a research note on Tuesday, May 21st.
The firm has a market cap of $217.12 million and a P/E ratio of -39.03. The company’s 50 day simple moving average is GBX 81.01 and its 200-day simple moving average is GBX 79.59.
About Eco Atlantic Oil & Gas (LON:ECO)
Eco (Atlantic) Oil & Gas Ltd., a development stage company, engages in the identification, acquisition, exploration, and development of petroleum, natural gas, and shale gas properties. The company holds a 40% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin, the Co-Operative Republic of Guyana; a 25% working interest in the Cooper block covering 1,100 kilometers located in Namibia; and interests in four offshore petroleum licenses totaling approximately 25,000 square kilometers located in the Republic of Namibia.
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