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

StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research report report published on Monday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital lowered their target price on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of NYSE:PED opened at $0.86 on Monday. The business’s fifty day moving average price is $0.83 and its two-hundred day moving average price is $0.90. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The stock has a market capitalization of $76.97 million, a price-to-earnings ratio of 43.02 and a beta of 0.52.

Insider Buying and Selling

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $0.74, for a total transaction of $25,900.00. Following the sale, the chief accounting officer now directly owns 714,700 shares of the company’s stock, valued at $528,878. This represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 70.60% of the stock is owned by corporate insiders.

About PEDEVCO

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.