PEDEVCO Corp. (NYSEAMERICAN:PED) Sees Significant Decrease in Short Interest

PEDEVCO Corp. (NYSEAMERICAN:PED) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 25,900 shares, a drop of 18.8% from the September 15th total of 31,900 shares. Based on an average daily volume of 83,400 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

PEDEVCO Stock Performance

Shares of NYSEAMERICAN PED traded down $0.01 during trading hours on Friday, hitting $1.00. 47,223 shares of the company traded hands, compared to its average volume of 101,161. The company has a market cap of $87.04 million, a P/E ratio of 33.34 and a beta of 1.32. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.10.

PEDEVCO (NYSEAMERICAN:PED) last released its earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $11.81 million during the quarter, compared to analyst estimates of $9.05 million. PEDEVCO had a net margin of 11.32% and a return on equity of 3.71%. As a group, equities analysts predict that PEDEVCO will post 0.12 EPS for the current year.

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.