Pharos Energy (LON:PHAR) Shares Up 14.3% Following Insider Buying Activity

Pharos Energy plc (LON:PHAR)’s stock price traded up 14.3% during trading on Monday after an insider bought additional shares in the company. The company traded as high as GBX 24 ($0.30) and last traded at GBX 24 ($0.30). 1,821,245 shares were traded during mid-day trading, an increase of 604% from the average session volume of 258,805 shares. The stock had previously closed at GBX 21 ($0.27).

Specifically, insider Sue Rivett sold 68,491 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of £15,493.14 ($19,596.69), for a total value of £1,061,140,651.74 ($1,342,196,625.02). Over the last ninety days, insiders bought 12,083 shares of company stock worth $293,937. 52.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a “house stock” rating on shares of Pharos Energy in a research note on Monday.

Pharos Energy Price Performance

The company’s 50-day simple moving average is GBX 23.38 and its 200 day simple moving average is GBX 21.89. The company has a market cap of £100.68 million, a PE ratio of -267.78, a PEG ratio of -0.02 and a beta of 1.60. The company has a debt-to-equity ratio of 14.99, a quick ratio of 1.72 and a current ratio of 2.02.

About Pharos Energy

Pharos Energy plc, an independent energy company, engages in the exploration, development, and production of oil and gas properties in Vietnam, Egypt, and China. The company was formerly known as SOCO International plc and changed its name to Pharos Energy plc in October 2019. Pharos Energy plc was incorporated in 1997 and is headquartered in London, the United Kingdom.