The stock of Lamprell Plc (LON:LAM) gapped up by GBX 0.305 today and has GBX 86.13 target or 8.00% above today’s GBX 79.75 share price. The 7 months technical chart setup indicates low risk for the GBX 274.02M company. The gap was reported on Nov, 24 by Barchart.com. If the GBX 86.13 price target is reached, the company will be worth GBX 21.92M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock decreased 1.54% or GBX 1.25 on November 24, hitting GBX 79.75. About 161,072 shares traded hands. Lamprell Plc (LON:LAM) has declined 7.54% since April 27, 2016 and is downtrending. It has underperformed by 12.95% the S&P500.
Lamprell Plc (LON:LAM) Ratings Coverage
Out of 9 analysts covering Lamprell PLC (LON:LAM), 3 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 33% are positive. Lamprell PLC has been the topic of 58 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Friday, September 30, the company rating was maintained by Canaccord Genuity. On Wednesday, March 23 the stock rating was maintained by Liberum Capital with “Buy”. The firm has “Buy” rating given on Monday, July 27 by Canaccord Genuity. The stock has “Buy” rating given by Nomura on Tuesday, September 1. On Tuesday, January 26 the stock rating was upgraded by HSBC to “Hold”. J.P. Morgan maintained Lamprell Plc (LON:LAM) rating on Friday, November 27. J.P. Morgan has “Overweight” rating and GBX 156 price target. The company was maintained on Thursday, January 14 by Investec. The stock of Lamprell Plc (LON:LAM) has “Buy” rating given on Friday, January 8 by Canaccord Genuity. Investec maintained Lamprell Plc (LON:LAM) rating on Friday, November 27. Investec has “Buy” rating and GBX 165 price target. The rating was maintained by JP Morgan on Thursday, March 24 with “Overweight”.
More notable recent Lamprell Plc (LON:LAM) news were published by: Fool.Co.Uk which released: “Should You Buy Lonmin Plc, Randgold Resources Limited And Lamprell Plc?” on January 04, 2016, also Fool.Co.Uk with their article: “Will Tullow Oil plc, Lamprell plc and Ophir Energy plc ever deliver multi …” published on May 05, 2016, Fool.Co.Uk published: “Why Is Lamprell Plc Rocketing Higher Today?” on March 19, 2015. More interesting news about Lamprell Plc (LON:LAM) were released by: Fool.Co.Uk and their article: “Will BHP Billiton plc, Tullow Oil plc And Lamprell Plc Recover In 2016?” published on December 21, 2015 as well as Fool.Co.Uk‘s news article titled: “Are Lamprell Plc And UK Oil & Gas Investments PLC Set To Soar?” with publication date: November 24, 2015.
Lamprell plc is a United Kingdom-based well-known provider of fabrication, engineering and contracting services to the offshore and onshore gas and oil, and renewable energy industries. The company has a market cap of 274.02 million GBP. The principal activities of the Company and its subsidiaries are the upgrade and refurbishment of offshore jackup rigs; fabrication; assembly and new build construction for the offshore gas and oil and renewable sector, including jackup rigs and liftboats; Floating Production, Storage and Offloading and other offshore and onshore structures, and oilfield engineering services, including the upgrade and refurbishment of land rigs. It has a 8.18 P/E ratio.