PEDEVCO (NYSE:PED) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report sent to investors on Tuesday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $1.50 price target on shares of PEDEVCO in a research note on Wednesday, April 2nd.

PEDEVCO Stock Performance

PEDEVCO stock opened at $0.56 on Tuesday. The business’s fifty day moving average is $0.62 and its two-hundred day moving average is $0.76. The firm has a market cap of $51.42 million, a P/E ratio of 28.16 and a beta of 0.30. PEDEVCO has a 52 week low of $0.47 and a 52 week high of $1.10.

Institutional Trading of PEDEVCO

Large investors have recently bought and sold shares of the business. Virtu Financial LLC lifted its stake in PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Citadel Advisors LLC boosted its holdings in PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after purchasing an additional 130,349 shares during the last quarter. 3.26% of the stock is owned by institutional investors.

PEDEVCO Company Profile

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.