Petro Matad (LON:MATD) Trading Down 11.2% – Here’s What Happened

Petro Matad Limited (LON:MATD)’s share price was down 11.2% during mid-day trading on Wednesday . The company traded as low as GBX 1.30 and last traded at GBX 1.40. Approximately 20,100,281 shares traded hands during trading, an increase of 103% from the average daily volume of 9,903,928 shares. The stock had previously closed at GBX 1.58.

Analyst Ratings Changes

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Petro Matad in a report on Thursday, October 9th.

Petro Matad Price Performance

The stock’s fifty day moving average is GBX 1.01 and its 200-day moving average is GBX 1.21. The stock has a market cap of £24.32 million, a PE ratio of -1.65 and a beta of 2.24.

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.