Nostrum Oil & Gas (LON:NOG) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Nostrum Oil & Gas PLC (LON:NOG) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 3.45 ($0.04) and traded as low as GBX 2.53 ($0.03). Nostrum Oil & Gas shares last traded at GBX 3.13 ($0.04), with a volume of 579 shares trading hands.

Wall Street Analysts Forecast Growth

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

Nostrum Oil & Gas Price Performance

The company has a market capitalization of £7.70 million, a price-to-earnings ratio of -0.10, a PEG ratio of -0.07 and a beta of 1.33. The company has a current ratio of 3.35, a quick ratio of 0.17 and a debt-to-equity ratio of -384.25. The company has a 50 day moving average price of GBX 2.97 and a 200 day moving average price of GBX 3.45.

Nostrum Oil & Gas Company Profile

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.