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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Sunday. The firm set a “sell” rating on the stock.

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

PEDEVCO Trading Up 4.1 %

PED opened at $0.78 on Friday. The firm’s 50 day simple moving average is $0.84 and its two-hundred day simple moving average is $0.90. The company has a market capitalization of $69.63 million, a PE ratio of 38.92 and a beta of 0.51. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.10.

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.