Pedevco (NYSEAMERICAN:PED) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Pedevco Corp. (NYSEAMERICAN:PED)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.33 and traded as low as $11.82. Pedevco shares last traded at $12.58, with a volume of 7,045 shares changing hands.

Wall Street Analyst Weigh In

Separately, Zacks Research cut Pedevco from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Pedevco Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $14.55 and its 200-day moving average is $13.35. The firm has a market cap of $155.74 million, a P/E ratio of 390.46 and a beta of 0.20.

Pedevco (NYSEAMERICAN:PED) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($3.90). The firm had revenue of $40.22 million for the quarter, compared to analyst estimates of $37.65 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. As a group, analysts forecast that Pedevco Corp. will post 1.58 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Martyn Willsher purchased 13,428 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average cost of $14.29 per share, with a total value of $191,886.12. Following the purchase, the director owned 25,727 shares in the company, valued at $367,638.83. This trade represents a 109.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.40% of the stock is owned by company insiders.

Institutional Trading of Pedevco

An institutional investor recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco comprises about 0.0% of Juniper Capital Advisors L.P.’s investment portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco at the end of the most recent reporting period. Institutional investors and hedge funds own 3.26% of the company’s stock.

Pedevco Company Profile

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.