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

Stock analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a report released on Wednesday. The brokerage set a "sell" rating on the stock.

Separately, D. Boral Capital dropped their price objective on shares of PEDEVCO from $2.25 to $1.50 and set a "buy" rating on the stock in a report on Wednesday, November 20th.

PEDEVCO Price Performance

Shares of NYSE PED traded down $0.04 during midday trading on Wednesday, reaching $0.91. 242,832 shares of the stock were exchanged, compared to its average volume of 193,815. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.10. The business has a 50-day simple moving average of $0.82 and a two-hundred day simple moving average of $0.90. The company has a market capitalization of $81.53 million, a price-to-earnings ratio of 45.57 and a beta of 0.52.

Insider Buying and Selling at PEDEVCO

In related 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 completion of the transaction, the chief accounting officer now owns 714,700 shares of the company's stock, valued at approximately $528,878. This trade represents a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.