IGAS Energy (LON:IGAS) Shares Cross Below Two Hundred Day Moving Average of $59.04

IGAS Energy PLC (LON:IGAS) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $59.04 and traded as low as $45.24. IGAS Energy shares last traded at $46.50, with a volume of 216,103 shares traded.

Separately, Canaccord Genuity reaffirmed a “buy” rating and set a GBX 190 ($2.48) price target on shares of IGAS Energy in a research report on Thursday, August 1st.

The firm has a market cap of $56.86 million and a price-to-earnings ratio of -2.91. The company has a fifty day moving average price of GBX 52.06 and a 200-day moving average price of GBX 59.04. The company has a current ratio of 2.02, a quick ratio of 1.84 and a debt-to-equity ratio of 16.55.

In related news, insider Stephen Bowler acquired 2,271 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of GBX 60 ($0.78) per share, with a total value of £1,362.60 ($1,780.48).

IGAS Energy Company Profile (LON:IGAS)

IGas Energy plc operates as an oil and gas exploration and production company Britain. It holds interests in the 55 licenses at onshore locations in the Weald Basin in the southern England; the Gainsborough Trough in the East Midlands; the Bowland Basin in the North West of England; and the Inner Moray Firth in Scotland.

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