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

Investment analysts at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a research report issued on Saturday. The firm set a "sell" rating on the stock.

Separately, D. Boral Capital lowered their target price on shares of PEDEVCO from $2.25 to $1.50 and set a "buy" rating for the company in a research note on Wednesday, November 20th.

PEDEVCO Stock Up 1.7 %

NYSE PED traded up $0.01 on Friday, hitting $0.77. 23,087 shares of the stock were exchanged, compared to its average volume of 160,927. PEDEVCO has a fifty-two week low of $0.65 and a fifty-two week high of $1.10. The company has a 50-day moving average price of $0.80 and a 200-day moving average price of $0.87. The company has a market cap of $68.47 million, a PE ratio of 38.27 and a beta of 0.52.

Insiders Place Their Bets

In other news, VP Moore Clark sold 125,000 shares of PEDEVCO stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $0.76, for a total transaction of $95,000.00. Following the sale, the vice president now owns 1,080,334 shares in the company, valued at approximately $821,053.84. The trade was a 10.37 % 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 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 completion of the sale, the chief executive officer now directly owns 1,197,133 shares of the company's stock, valued at $1,029,534.38. The trade was a 4.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,334 shares of company stock valued at $374,217. 70.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PEDEVCO

A number of institutional investors have recently modified their holdings of the business. Virtu Financial LLC grew its position in PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock worth $30,000 after purchasing an additional 21,499 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock worth $145,000 after buying an additional 130,349 shares during the period. Finally, Renaissance Technologies LLC grew 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 worth $228,000 after buying an additional 48,132 shares during the last quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

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.