Pantheon Resources (LON:PANR) Trading Down 51.5% – What’s Next?

Pantheon Resources Plc (LON:PANR)’s share price was down 51.5% during trading on Monday . The company traded as low as GBX 25.20 ($0.33) and last traded at GBX 25.33 ($0.34). Approximately 86,196,430 shares were traded during trading, an increase of 908% from the average daily volume of 8,550,886 shares. The stock had previously closed at GBX 52.20 ($0.69).

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “speculative buy” rating and issued a GBX 86 ($1.14) price objective on shares of Pantheon Resources in a research note on Monday, March 24th.

Pantheon Resources Stock Down 1.8 %

The company’s 50-day simple moving average is GBX 61.21 and its 200 day simple moving average is GBX 39.62. The company has a debt-to-equity ratio of 7.35, a current ratio of 0.79 and a quick ratio of 20.28. The firm has a market cap of £467.00 million, a P/E ratio of -30.51 and a beta of -0.36.

Insiders Place Their Bets

In other news, insider Linda Havard bought 21,000 shares of Pantheon Resources stock in a transaction dated Wednesday, March 26th. The shares were acquired at an average price of GBX 70 ($0.93) per share, with a total value of £14,700 ($19,454.74). 10.15% of the stock is currently owned by insiders.

Pantheon Resources Company Profile

Pantheon Resources plc is an AIM listed Oil & Gas company focused on developing the Ahpun and Kodiak fields located on state land on the Alaska North Slope (“ANS”), onshore USA where, following issue of the new leases, it will have a 100% working interest in c. 259,000 acres. Certified contingent resources attributable to these projects exceeds 1 billion barrels of marketable liquids, located adjacent to Alaska’s Trans Alaska Pipeline System (“TAPS”).

Pantheon’s stated objective is to demonstrate sustainable market recognition of a value of $5-$10/bbl of recoverable resources by end 2028.