Eco (Atlantic) Oil & Gas (LON:ECO) Shares Down 1% – What’s Next?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) fell 1% during mid-day trading on Friday . The company traded as low as GBX 10 ($0.13) and last traded at GBX 10.25 ($0.13). 594,926 shares were traded during trading, a decline of 35% from the average session volume of 920,714 shares. The stock had previously closed at GBX 10.35 ($0.13).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 125 ($1.57) price objective on shares of Eco (Atlantic) Oil & Gas in a report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Stock Down 1.0 %

The company has a market cap of £37.94 million, a price-to-earnings ratio of -256.25 and a beta of 1.95. The business has a fifty day moving average of GBX 10.50 and a two-hundred day moving average of GBX 11.89. The company has a current ratio of 1.68, a quick ratio of 4.71 and a debt-to-equity ratio of 2.11.

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.