Gran Tierra Energy (TSE:GTE) Share Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.62 and traded as low as C$9.25. Gran Tierra Energy shares last traded at C$9.64, with a volume of 17,243 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GTE shares. Royal Bank of Canada cut their price objective on shares of Gran Tierra Energy from C$10.00 to C$9.50 in a report on Monday, October 7th. Canaccord Genuity Group set a C$12.00 price objective on shares of Gran Tierra Energy and gave the stock a “buy” rating in a report on Wednesday, November 27th.

Gran Tierra Energy Stock Up 1.7 %

The business’s fifty day moving average price is C$8.97 and its 200 day moving average price is C$10.62. The firm has a market capitalization of C$295.47 million, a price-to-earnings ratio of 4.48, a PEG ratio of 0.23 and a beta of 1.57. The company has a current ratio of 0.75, a quick ratio of 0.58 and a debt-to-equity ratio of 147.61.

Insider Activity

In other Gran Tierra Energy news, Director Ronald William Royal sold 19,967 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of C$9.67, for a total value of C$193,080.89. Corporate insiders own 3.32% of the company’s stock.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.