Afentra (LON:AET) Reaches New 52-Week High – Time to Buy?

Shares of Afentra plc (LON:AET) hit a new 52-week high during trading on Monday . The company traded as high as GBX 89.40 and last traded at GBX 86.90, with a volume of 1668819 shares traded. The stock had previously closed at GBX 84.80.

Analyst Upgrades and Downgrades

AET has been the topic of a number of research reports. Canaccord Genuity Group raised shares of Afentra to a “buy” rating and boosted their price objective for the stock from GBX 80 to GBX 115 in a research report on Thursday, April 2nd. Shore Capital Group restated a “buy” rating on shares of Afentra in a report on Tuesday, March 31st. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of GBX 104.33.

Afentra Stock Performance

The firm has a market capitalization of £196.53 million, a price-to-earnings ratio of 6.74 and a beta of 0.09. The stock’s fifty day moving average is GBX 64.24 and its two-hundred day moving average is GBX 50.60. The company has a quick ratio of 28.92, a current ratio of 0.84 and a debt-to-equity ratio of 35.42.

About Afentra

Afentra plc, together with its subsidiaries, operates as an upstream oil and gas company primarily in Africa. The company is involved in the appraisal, exploration, development, and production of oil and gas. It holds 34% interest in an exploration project covering approximately 22,840 square kilometers located in Somaliland. Afentra plc was formerly known as Sterling Energy plc and changed its name to Afentra plc in May 2021. The company was incorporated in 1983 and is based in London, the United Kingdom.