Prio (OTCMKTS:PTRRY) Shares Down 14.7% – What’s Next?

Prio S.A. (OTCMKTS:PTRRY) shares fell 14.7% on Monday. The company traded as low as C$12.60 and last traded at C$12.76. 22,440 shares traded hands during trading, a decline of 52% from the average session volume of 46,915 shares. The stock had previously closed at C$14.96.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Prio from a “hold” rating to a “strong sell” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Prio presently has a consensus rating of “Sell”.

Prio Trading Down 16.1%

The stock’s 50-day moving average is C$12.46 and its two-hundred day moving average is C$12.20.

Prio Company Profile

Prio SA, formerly known as PetroRio, is an independent Brazilian oil and gas company focused on the exploration, production and development of offshore hydrocarbon assets. The company’s strategy centers on acquiring and redeveloping producing or mature fields, applying operational improvements and enhanced-recovery techniques to extend their productive lives.

Prio’s activities are concentrated in Brazil, particularly in the country’s offshore basins. Its portfolio has included producing fields and related infrastructure in the Campos Basin, such as the Frade, Polvo and Tubarão Martelo fields, as well as development projects including Wahoo.