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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research note released on Thursday morning. The brokerage issued a sell rating on the stock.

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

PEDEVCO Stock Up 0.1 %

PED stock opened at $0.79 on Thursday. The stock has a market cap of $70.35 million, a PE ratio of 78.49 and a beta of 0.52. The firm’s 50-day simple moving average is $0.82 and its 200 day simple moving average is $0.89. PEDEVCO has a fifty-two week low of $0.65 and a fifty-two week high of $1.10.

Insider Activity

In other news, CEO John Douglas Schick sold 120,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $0.76, for a total value of $91,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,577,133 shares in the company, valued at $1,198,621.08. This trade represents a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Paul Anthony Pinkston sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $0.74, for a total value of $25,900.00. Following the sale, the chief accounting officer now directly owns 714,700 shares in the company, valued at approximately $528,878. The trade was a 4.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 476,334 shares of company stock valued at $374,217. Company 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.