IGas Energy (LON:IGAS) Shares Cross Above Two Hundred Day Moving Average of $18.28

IGas Energy plc (LON:IGAS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 18.28 ($0.24) and traded as high as GBX 24.80 ($0.32). IGas Energy shares last traded at GBX 23.50 ($0.31), with a volume of 63,024 shares.

Separately, Canaccord Genuity lifted their price objective on shares of IGas Energy from GBX 52 ($0.68) to GBX 56 ($0.73) and gave the company a “buy” rating in a research report on Wednesday, March 31st.

The company has a market capitalization of £29.41 million and a P/E ratio of -0.54. The business’s 50-day simple moving average is GBX 26.18 and its 200 day simple moving average is GBX 18.28. The company has a current ratio of 1.05, a quick ratio of 0.87 and a debt-to-equity ratio of 28.93.

In related news, insider Stephen Bowler purchased 4,865 shares of the company’s stock in a transaction on Wednesday, January 27th. The shares were bought at an average cost of GBX 9 ($0.12) per share, for a total transaction of £437.85 ($572.05).

IGas Energy Company Profile (LON:IGAS)

IGas Energy plc operates as an oil and gas exploration and production company Britain. The company holds interests in the 55 licenses at onshore locations in the Weald Basin in the southern England; the Gainsborough Trough in the East Midlands; the Bowland Basin in the North West of England; and the Inner Moray Firth in Scotland.

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