PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Tuesday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $1.50 target price on shares of PEDEVCO in a report on Wednesday, April 2nd.

PEDEVCO Stock Up 6.0 %

PED opened at $0.56 on Tuesday. PEDEVCO has a 12-month low of $0.47 and a 12-month high of $1.10. The business has a 50 day moving average of $0.62 and a 200-day moving average of $0.76. The stock has a market cap of $51.42 million, a price-to-earnings ratio of 28.16 and a beta of 0.30.

Institutional Trading of PEDEVCO

A number of institutional investors have recently modified their holdings of the stock. Virtu Financial LLC increased its holdings in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after buying an additional 21,499 shares during the period. Renaissance Technologies LLC boosted its position in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after acquiring an additional 48,132 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in shares of PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after acquiring an additional 130,349 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

PEDEVCO Company Profile

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.