Short Interest in Pedevco Corp. (NYSEAMERICAN:PED) Grows By 222.0%

Pedevco Corp. (NYSEAMERICAN:PED) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 137,008 shares, an increase of 222.0% from the June 15th total of 42,553 shares. Currently, 3.5% of the company’s stock are short sold. Based on an average daily trading volume, of 122,734 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity at Pedevco

In other Pedevco news, Director Martyn Willsher purchased 13,428 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $14.29 per share, for a total transaction of $191,886.12. Following the purchase, the director directly owned 25,727 shares in the company, valued at $367,638.83. This trade represents a 109.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Moore Clark sold 18,797 shares of Pedevco stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99. Following the completion of the sale, the vice president directly owned 54,428 shares of the company’s stock, valued at approximately $798,458.76. The trade was a 25.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 70.40% of the company’s stock.

Institutional Trading of Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new position in shares of Pedevco Corp. (NYSEAMERICAN:PED) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco accounts for about 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd biggest holding. Juniper Capital Advisors L.P. owned 0.21% of Pedevco as of its most recent filing with the Securities and Exchange Commission. 3.26% of the stock is owned by institutional investors and hedge funds.

Pedevco Stock Performance

PED stock traded down $0.33 during mid-day trading on Tuesday, reaching $12.49. 32,482 shares of the stock traded hands, compared to its average volume of 36,372. The firm has a market capitalization of $166.12 million, a PE ratio of 416.47 and a beta of 0.18. The business has a 50-day moving average of $13.43 and a two-hundred day moving average of $13.56. Pedevco has a 52 week low of $8.64 and a 52 week high of $18.89. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.54.

Pedevco (NYSEAMERICAN:PED) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) earnings per share for the quarter, missing the consensus estimate of $0.62 by ($3.90). The business had revenue of $40.22 million for the quarter, compared to analyst estimates of $37.65 million. Pedevco had a negative return on equity of 3.20% and a negative net margin of 46.78%. As a group, equities analysts predict that Pedevco will post 0.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Zacks Research lowered Pedevco from a “hold” rating to a “strong sell” rating in a report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Pedevco currently has a consensus rating of “Moderate Buy”.

Pedevco Company Profile

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.