Petro Matad (LON:MATD) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Petro Matad Limited (LON:MATD)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1.78 ($0.02) and traded as high as GBX 1.82 ($0.02). Petro Matad shares last traded at GBX 1.79 ($0.02), with a volume of 1,374,904 shares.

Wall Street Analyst Weigh In

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

Petro Matad Price Performance

The company has a market cap of £28.67 million, a PE ratio of -3.27 and a beta of 2.24. The business has a fifty day simple moving average of GBX 1.54 and a two-hundred day simple moving average of GBX 1.77.

Petro Matad Company Profile

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.