Serica Energy (LON:SQZ) Shares Down 11.3% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

SQZ has been the topic of several recent research reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a report on Tuesday. Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 200 ($2.52) price target on shares of Serica Energy in a report on Thursday, January 23rd.

Serica Energy Trading Down 11.3 %

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

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.