Short Interest in Pedevco Corp. (NYSEAMERICAN:PED) Expands By 222.0%

Pedevco Corp. (NYSEAMERICAN:PED) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 137,008 shares, a growth of 222.0% from the June 15th total of 42,553 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 122,734 shares, the days-to-cover ratio is currently 1.1 days.

Pedevco Stock Performance

NYSEAMERICAN PED opened at $11.40 on Monday. Pedevco has a 12 month low of $8.64 and a 12 month high of $18.89. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average price is $13.49 and its 200-day moving average price is $13.55. The stock has a market cap of $151.62 million, a P/E ratio of 380.13 and a beta of 0.18.

Pedevco (NYSEAMERICAN:PED) last released its quarterly earnings data on Thursday, May 14th. The company reported ($3.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). The firm had revenue of $40.22 million for the quarter, compared to the consensus estimate 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, equities analysts forecast that Pedevco will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, VP Moore Clark sold 18,797 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99. Following the transaction, the vice president owned 54,428 shares in the company, valued at $798,458.76. The trade was a 25.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Martyn Willsher purchased 13,428 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of $14.29 per share, with a total value of $191,886.12. Following the completion of the purchase, the director owned 25,727 shares of the company’s stock, valued at $367,638.83. This represents a 109.18% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 70.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pedevco

An institutional investor recently bought a new stake in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in Pedevco Corp. (NYSEAMERICAN:PED) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s portfolio, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned 0.21% of Pedevco at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

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.