Investors have priced Oando Plc’s 12.431 billion outstanding shares at N634 billion amid weakening market sentiment, despite the company’s strong financial performance and improved fundamentals.
Trading data from the Nigerian Exchange (NGX) shows that Oando’s stock has been retreating from the highs that delivered a remarkable 508% capital appreciation for shareholders in 2024. However, investor confidence appears to have waned in the first half of 2025, affecting the company’s market value.
Oando’s share price slipped slightly on a week-on-week basis, despite a late rally in the equities segment of the NGX on Friday. Market data revealed that fresh investor interest pushed Oando’s share price up by 5.6% after 1.557 million shares valued at approximately N80 million were traded.
Over the past 52 weeks, Oando’s stock has experienced significant sell-offs, making the energy company’s shares more affordable. The sell-offs, which came ahead of the company’s first-quarter 2025 earnings release, have effectively wiped out half of Oando’s market value over the period.
Market analysts suggest that a strong first-quarter earnings report could serve as a catalyst to revive Oando’s share price. However, the company remains vulnerable to the broader downtrend in investor sentiment on the Nigerian Exchange, which has been under sustained pressure in recent weeks.
Stockbrokers remain optimistic that improved earnings could reverse the current market trend, positioning Oando for a fresh rally once investor confidence rebounds.
