StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a report published on Tuesday. The firm issued a sell rating on the stock.

PEDEVCO Price Performance

PED opened at $0.89 on Tuesday. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10. The company has a market capitalization of $79.03 million, a price-to-earnings ratio of 44.26 and a beta of 0.60. The firm has a 50-day moving average price of $0.93 and a 200-day moving average price of $0.93.

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.