Savannah Energy (LON:SAVE) Shares Down 11.1% – Here’s What Happened

Savannah Energy PLC (LON:SAVE) was down 11.1% during mid-day trading on Tuesday . The company traded as low as GBX 9.15 ($0.12) and last traded at GBX 9.20 ($0.12). Approximately 3,031,060 shares were traded during trading, a decline of 57% from the average daily volume of 7,077,480 shares. The stock had previously closed at GBX 10.35 ($0.13).

Analysts Set New Price Targets

Separately, Shore Capital restated an “under review” rating on shares of Savannah Energy in a research report on Wednesday, December 4th.

Savannah Energy Price Performance

The company has a quick ratio of 0.57, a current ratio of 0.76 and a debt-to-equity ratio of 228.16. The stock’s 50-day simple moving average is GBX 24.27 and its two-hundred day simple moving average is GBX 23.74. The company has a market capitalization of £10.83 billion, a price-to-earnings ratio of -5.35 and a beta of 0.86.

About Savannah Energy

Savannah Energy PLC is a British independent energy company focused around the delivery of Projects that Matter in Africa. We are active in both hydrocarbon and renewable energy projects.

In Nigeria, Savannah has a significant controlling interest in a large-scale integrated gas production and distribution business which is capable of supplying gas to enable approximately 20% of Nigeria’s thermal power generation capacity.