Petro Matad (LON:MATD) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Petro Matad Limited (LON:MATD) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1.80 ($0.02) and traded as high as GBX 2 ($0.03). Petro Matad shares last traded at GBX 1.91 ($0.02), with a volume of 2,114,969 shares trading hands.

Analyst Ratings Changes

Separately, Shore Capital reissued a “house stock” rating on shares of Petro Matad in a research note on Thursday, March 13th.

Petro Matad Stock Up 2.3 %

The stock has a market capitalization of £35.15 million, a price-to-earnings ratio of -4.00 and a beta of 2.24. The firm has a 50-day moving average of GBX 1.50 and a two-hundred day moving average of GBX 1.80.

About Petro Matad

Petro Matad Limited, together with its subsidiaries, engages in the exploration, development, and production of oil in Mongolia. It holds 100% interests in production sharing contract blocks, including Ongi Block V that covers an area of approximately 7,937 square kilometers; and Matad Block XX that consists of an area of approximately 214 square kilometers in Mongolia.