PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research report issued on Tuesday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital decreased their price objective on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a research note on Wednesday, November 20th.

PEDEVCO Price Performance

NYSE PED opened at $0.90 on Tuesday. PEDEVCO has a 1-year low of $0.61 and a 1-year high of $1.10. The firm has a market capitalization of $80.37 million, a P/E ratio of 86.80 and a beta of 0.52. The business’s 50-day simple moving average is $0.83 and its 200-day simple moving average is $0.90.

Insider Activity

In related news, CAO Paul Anthony Pinkston sold 35,000 shares of the stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the completion of the transaction, the chief accounting officer now owns 714,700 shares of the company’s stock, valued at approximately $528,878. This represents a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 70.60% of the company’s stock.

About PEDEVCO

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.