Eco (Atlantic) Oil & Gas (LON:ECO) Shares Up 8.5% – Should You Buy?

Eco (Atlantic) Oil & Gas Ltd. (LON:ECO)’s share price shot up 8.5% during mid-day trading on Thursday . The company traded as high as GBX 11.20 ($0.14) and last traded at GBX 11.12 ($0.14). 2,349,430 shares changed hands during trading, an increase of 160% from the average session volume of 904,982 shares. The stock had previously closed at GBX 10.25 ($0.13).

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 125 ($1.59) price objective on shares of Eco (Atlantic) Oil & Gas in a research report on Thursday, August 29th.

Eco (Atlantic) Oil & Gas Stock Performance

The stock has a 50 day moving average of GBX 10.18 and a two-hundred day moving average of GBX 11.52. The stock has a market capitalization of £42.57 million, a PE ratio of -256.25 and a beta of 1.95. The company has a debt-to-equity ratio of 2.11, a current ratio of 1.68 and a quick ratio of 4.71.

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.