PEDEVCO (NYSE:PED) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a report released on Sunday. The brokerage set a “sell” rating on the stock.

Separately, D. Boral Capital restated a “buy” rating and issued a $1.50 price target on shares of PEDEVCO in a research note on Wednesday, April 2nd.

PEDEVCO Stock Performance

PED stock opened at $0.52 on Friday. The stock has a market capitalization of $47.24 million, a PE ratio of 25.87 and a beta of 0.29. PEDEVCO has a one year low of $0.47 and a one year high of $1.10. The company has a fifty day moving average of $0.68 and a 200-day moving average of $0.79.

Insider Activity

In other PEDEVCO news, CAO Paul Anthony Pinkston sold 65,000 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $49,400.00. Following the completion of the transaction, the chief accounting officer now directly owns 816,700 shares in the company, valued at approximately $620,692. The trade was a 7.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Moore Clark sold 50,000 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total value of $43,000.00. Following the transaction, the vice president now owns 855,334 shares in the company, valued at $735,587.24. This trade represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 441,334 shares of company stock worth $348,317 over the last ninety days. 70.60% of the stock is currently owned by insiders.

Institutional Trading of PEDEVCO

Several institutional investors have recently made changes to their positions in PED. Virtu Financial LLC grew its position in PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock valued at $30,000 after acquiring an additional 21,499 shares during the period. Citadel Advisors LLC increased its position in PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock worth $145,000 after purchasing an additional 130,349 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after buying an additional 48,132 shares during the period. 3.26% of the stock is owned by hedge funds and other institutional investors.

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.