Eco (Atlantic) Oil & Gas (LON:ECO) Stock Crosses Below 50-Day Moving Average of $11.95

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 11.95 ($0.16) and traded as low as GBX 11.30 ($0.15). Eco (Atlantic) Oil & Gas shares last traded at GBX 11.50 ($0.15), with a volume of 440,825 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reissued a “buy” rating and set a GBX 125 ($1.65) target price on shares of Eco (Atlantic) Oil & Gas in a research report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Stock Up 2.2 %

The company has a 50-day simple moving average of GBX 11.95 and a 200 day simple moving average of GBX 11.60. The company has a market cap of £43.49 million, a P/E ratio of -230.00 and a beta of 1.95. The company has a current ratio of 1.68, a quick ratio of 4.71 and a debt-to-equity ratio of 2.11.

About Eco (Atlantic) Oil & Gas

Eco (Atlantic) Oil & Gas Ltd. engages in the identification, acquisition, exploration, and development of the petroleum, natural gas, and shale gas properties in the Republic of Namibia and the Co-Operative Republic of Guyana. The company holds a 15% working interest in the Orinduik block comprising 1,800 square kilometers located in the Suriname Guyana basin; and 17.5% interests in the Canje Block covering an area of 4,800 square kilometers located in Guyana.