Arrow Exploration (LON:AXL) Shares Down 10.4% – Here’s Why

Arrow Exploration Corp. (LON:AXL)’s share price dropped 10.4% during trading on Wednesday . The stock traded as low as GBX 19.50 ($0.24) and last traded at GBX 20.38 ($0.25). Approximately 3,203,982 shares traded hands during trading, an increase of 239% from the average daily volume of 946,307 shares. The stock had previously closed at GBX 22.75 ($0.28).

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 50 ($0.62) price target on shares of Arrow Exploration in a research report on Tuesday, December 17th. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 50 ($0.62) target price on shares of Arrow Exploration in a research report on Tuesday, December 17th.

Arrow Exploration Stock Down 12.1 %

The stock has a market cap of £57.17 million, a P/E ratio of 676.67 and a beta of 1.51. The company has a current ratio of 1.50, a quick ratio of 1.65 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is GBX 23.93 and its 200 day moving average is GBX 26.54.

About Arrow Exploration

Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy SA) is a publicly-traded company with a portfolio of premier Colombian oil assets that are under-exploited, under-explored and offer high potential growth. The Company’s business plan is to expand oil production from some of Colombia’s most active basins, including the Llanos, Middle Magdalena Valley (MMV) and Putumayo Basin.