Petro Matad (LON:MATD) Trading 10% Higher – What’s Next?

Petro Matad Limited (LON:MATD)’s stock price was up 10% on Wednesday . The stock traded as high as GBX 1.65 ($0.02) and last traded at GBX 1.65 ($0.02). Approximately 6,129,614 shares traded hands during trading, an increase of 9% from the average daily volume of 5,620,544 shares. The stock had previously closed at GBX 1.50 ($0.02).

Wall Street Analyst Weigh In

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

Petro Matad Price Performance

The stock has a market capitalization of £30.64 million, a P/E ratio of -3.49 and a beta of 2.24. The company’s 50-day simple moving average is GBX 1.59 and its 200-day simple moving average is GBX 1.73.

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.