Pedevco Corp. (NYSEAMERICAN:PED) Sees Large Decline in Short Interest

Pedevco Corp. (NYSEAMERICAN:PED) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 77,938 shares, a decline of 49.2% from the December 15th total of 153,558 shares. Based on an average daily volume of 132,797 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 132,797 shares, the days-to-cover ratio is currently 0.6 days.

Pedevco Stock Up 1.7%

Shares of PED traded up $0.01 during mid-day trading on Friday, hitting $0.55. 136,188 shares of the company’s stock were exchanged, compared to its average volume of 120,004. Pedevco has a 52 week low of $0.43 and a 52 week high of $1.00. The stock’s 50-day simple moving average is $0.54 and its 200-day simple moving average is $0.58. The firm has a market cap of $52.15 million, a price-to-earnings ratio of 4.96 and a beta of 0.26.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.