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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report issued on Friday morning. The firm issued a sell rating on the stock.

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

PEDEVCO Price Performance

Shares of PED opened at $0.56 on Friday. PEDEVCO has a 12-month low of $0.54 and a 12-month high of $1.10. The business’s fifty day moving average price is $0.74 and its 200 day moving average price is $0.83. The stock has a market capitalization of $50.13 million, a PE ratio of 28.02 and a beta of 0.29.

Insider Buying and Selling

In other PEDEVCO news, VP Moore Clark sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the transaction, the vice president now directly owns 855,334 shares of the company’s stock, valued at $735,587.24. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total transaction of $49,400.00. Following the completion of the sale, the chief accounting officer now owns 816,700 shares in the company, valued at $620,692. The trade was a 7.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 441,334 shares of company stock worth $348,317 in the last three months. 70.60% of the stock is owned by insiders.

Hedge Funds Weigh In On PEDEVCO

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

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.