StockNews.com Initiates Coverage on PEDEVCO (NYSE:PED)

Equities researchers at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a research note issued to investors on Monday. The firm set a “sell” rating on the stock.

Separately, Alliance Global Partners assumed coverage on shares of PEDEVCO in a report on Wednesday, July 17th. They set a “buy” rating and a $1.75 price objective for the company.

PEDEVCO Price Performance

PED stock opened at $0.92 on Monday. The firm has a market cap of $82.07 million, a PE ratio of -92,810.00 and a beta of 0.60. The business has a 50 day moving average of $0.93 and a 200-day moving average of $0.93. PEDEVCO has a 12-month low of $0.61 and a 12-month high of $1.10.

PEDEVCO (NYSE:PED) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $11.81 million during the quarter, compared to the consensus estimate of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. On average, research analysts expect that PEDEVCO will post 0.06 earnings per share for the current year.

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.