PEDEVCO (NYSE:PED) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a note issued to investors on Friday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital cut their price target on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 20th.

PEDEVCO Price Performance

PEDEVCO stock opened at $0.78 on Friday. The firm has a market capitalization of $69.41 million, a P/E ratio of 38.79 and a beta of 0.52. The company’s 50-day moving average is $0.81 and its 200 day moving average is $0.88. PEDEVCO has a 1-year low of $0.65 and a 1-year high of $1.10.

Insider Transactions at PEDEVCO

In related news, VP Moore Clark sold 125,000 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $0.76, for a total value of $95,000.00. Following the completion of the transaction, the vice president now owns 1,080,334 shares in the company, valued at $821,053.84. This trade represents a 10.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Douglas Schick sold 58,334 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $0.86, for a total value of $50,167.24. Following the sale, the chief executive officer now owns 1,197,133 shares in the company, valued at approximately $1,029,534.38. The trade was a 4.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 476,334 shares of company stock worth $374,217. Insiders own 70.60% of the company’s stock.

PEDEVCO Company Profile

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.