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

StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Friday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $1.50 price target on shares of PEDEVCO in a research report on Wednesday.

PEDEVCO Price Performance

PEDEVCO stock opened at $0.56 on Friday. The company has a market cap of $50.13 million, a price-to-earnings ratio of 28.02 and a beta of 0.29. PEDEVCO has a 12 month low of $0.54 and a 12 month high of $1.10. The stock’s 50-day moving average is $0.74 and its 200-day moving average is $0.83.

Insider Activity at PEDEVCO

In other news, VP Moore Clark sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $43,000.00. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Paul Anthony Pinkston sold 65,000 shares of the business’s stock in a transaction dated 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 owns 816,700 shares in the company, valued at approximately $620,692. This trade represents a 7.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 441,334 shares of company stock worth $348,317. 70.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PEDEVCO

Several hedge funds and other institutional investors have recently bought and sold shares of PED. Virtu Financial LLC grew its position in shares of PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company’s stock worth $30,000 after buying an additional 21,499 shares in the last quarter. Citadel Advisors LLC grew its holdings 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 acquiring an additional 130,349 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock worth $228,000 after acquiring an additional 48,132 shares in the last quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

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.