PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a report published on Monday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital decreased their price target on PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research note on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of PED stock opened at $0.86 on Monday. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10. The firm has a market capitalization of $76.97 million, a price-to-earnings ratio of 43.02 and a beta of 0.52. The business has a 50 day simple moving average of $0.83 and a 200 day simple moving average of $0.90.

Insider Activity

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total transaction of $25,900.00. Following the completion of the sale, the chief accounting officer now owns 714,700 shares in the company, valued at approximately $528,878. This represents a 4.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 70.60% of the stock is owned by corporate insiders.

About PEDEVCO

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.