Serica Energy (LON:SQZ) Stock Price Down 11.3% – Here’s Why

Serica Energy plc (LON:SQZ) fell 11.3% during trading on Tuesday . The company traded as low as GBX 121.98 ($1.54) and last traded at GBX 127.80 ($1.61). 10,925,269 shares changed hands during trading, an increase of 537% from the average session volume of 1,715,381 shares. The stock had previously closed at GBX 144 ($1.82).

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Canaccord Genuity Group restated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a research report on Thursday, January 23rd. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.52) target price on shares of Serica Energy in a research note on Tuesday.

Serica Energy Stock Performance

The stock has a market cap of £629.83 million, a PE ratio of -88.08, a price-to-earnings-growth ratio of 2.15 and a beta of 0.44. The company has a quick ratio of 1.22, a current ratio of 1.69 and a debt-to-equity ratio of 26.31. The firm has a 50 day moving average price of GBX 141.93 and a 200 day moving average price of GBX 135.65.

About Serica Energy

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.