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

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a report released on Sunday. The brokerage set a “sell” rating on the stock.

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

PEDEVCO Stock Down 2.6 %

Shares of PED stock opened at $0.74 on Friday. PEDEVCO has a 12 month low of $0.65 and a 12 month high of $1.10. The business’s 50 day moving average is $0.80 and its two-hundred day moving average is $0.86. The company has a market cap of $66.25 million, a PE ratio of 37.03 and a beta of 0.52.

Insider Transactions at PEDEVCO

In other news, CAO Paul Anthony Pinkston sold 35,000 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $0.74, for a total value of $25,900.00. Following the sale, the chief accounting officer now owns 714,700 shares in the company, valued at approximately $528,878. This trade represents a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Douglas Schick sold 58,334 shares of PEDEVCO stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $0.86, for a total transaction of $50,167.24. Following the sale, the chief executive officer now owns 1,197,133 shares in the company, valued at $1,029,534.38. This represents a 4.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,334 shares of company stock worth $374,217. Insiders own 70.60% of the company’s stock.

Institutional Investors Weigh In On PEDEVCO

A number of institutional investors have recently bought and sold shares of the business. Virtu Financial LLC boosted its stake in 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. Renaissance Technologies LLC lifted its holdings in shares of PEDEVCO by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company’s stock valued at $228,000 after acquiring an additional 48,132 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in shares of PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company’s stock valued at $145,000 after acquiring an additional 130,349 shares during the period. Institutional investors and hedge funds own 3.26% 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.