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Pantheon Resources shares fell 20% after COO sold shares, despite buy rating and high turnover.
Pantheon Resources (LON:PANR) shares dropped 19.8% to GBX 20.30 on Tuesday, with trading volume surging 749% above average, following a prior close of GBX 25.30.
The decline, amid a 73.8 million share turnover, coincided with a company COO's sale of 68,358 shares.
The AIM-listed oil and gas firm, focused on Alaska’s North Slope Ahpun and Kodiak fields, maintains a consensus "Buy" rating and a GBX 66 target price, despite a negative P/E ratio of -20.10, high debt-to-equity ratio of 7.35, and current ratio of 0.79.
Technical indicators show the 50-day and 200-day moving averages near GBX 26.07.
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Las acciones de Pantheon Resources cayeron un 20% después de que COO vendiera acciones, a pesar de la calificación de compra y la alta rotación.