Eco Atlantic Oil & Gas Ltd (LON:ECO) was down 6.1% on Monday . The company traded as low as GBX 18 ($0.24) and last traded at GBX 19.25 ($0.25). Approximately 673,219 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 843,507 shares. The stock had previously closed at GBX 20.50 ($0.27).
Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 145 ($1.89) price target on shares of Eco Atlantic Oil & Gas in a report on Thursday, August 20th.
The stock has a market cap of $42.48 million and a price-to-earnings ratio of -2.44. The company has a fifty day simple moving average of GBX 21.46 and a 200-day simple moving average of GBX 22.22.
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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