Nostrum Oil & Gas (LON:NOG) Trading Up 8.9% – Time to Buy?

Nostrum Oil & Gas PLC (LON:NOG) shares rose 8.9% during trading on Thursday . The company traded as high as GBX 2.89 ($0.04) and last traded at GBX 2.89 ($0.04). Approximately 868,700 shares traded hands during trading, an increase of 296% from the average daily volume of 219,192 shares. The stock had previously closed at GBX 2.66 ($0.03).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reissued a “buy” rating and issued a GBX 8 ($0.10) target price on shares of Nostrum Oil & Gas in a research report on Friday, January 31st.

Nostrum Oil & Gas Stock Performance

The stock has a market cap of £5.07 million, a PE ratio of -0.70, a P/E/G ratio of -0.07 and a beta of 1.33. The firm’s 50-day moving average is GBX 3.08 and its 200 day moving average is GBX 3.86. The company has a debt-to-equity ratio of 200.65, a quick ratio of 0.17 and a current ratio of 4.86.

About Nostrum Oil & Gas

Nostrum Oil & Gas PLC, an independent oil and gas company, engages in the exploration, development, and production of oil and gas in the pre-Caspian Basin. The company discovers and develops oil and gas reserves, as well as produces and sells crude oil, stabilized condensate, liquefied petroleum gas, and dry gas.