Pedevco Corp (NYSEAMERICAN:PED) Sees Significant Increase in Short Interest

Pedevco Corp (NYSEAMERICAN:PED) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 337,800 shares, an increase of 11.3% from the January 15th total of 303,400 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average trading volume of 45,700 shares, the days-to-cover ratio is currently 7.4 days.

In other Pedevco news, CEO Simon G. Kukes acquired 29,338 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were acquired at an average price of $1.59 per share, for a total transaction of $46,647.42. Also, CEO Simon G. Kukes acquired 17,468 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $1.67 per share, for a total transaction of $29,171.56. In the last quarter, insiders bought 77,536 shares of company stock worth $124,609.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Pedevco by 2,017.2% in the 2nd quarter. BlackRock Inc. now owns 21,172 shares of the company’s stock valued at $44,000 after acquiring an additional 20,172 shares during the last quarter. Barclays PLC purchased a new position in shares of Pedevco in the 4th quarter valued at about $60,000. Finally, Vanguard Group Inc. increased its holdings in shares of Pedevco by 18.4% in the 2nd quarter. Vanguard Group Inc. now owns 91,437 shares of the company’s stock valued at $190,000 after acquiring an additional 14,206 shares during the last quarter.

PED opened at $1.19 on Friday. Pedevco has a one year low of $1.05 and a one year high of $2.90.

Pedevco Company Profile

PEDEVCO Corp., doing business as Pacific Energy Development, engages in the acquisition, exploration, development, and production of oil and natural gas shale plays in the United States. The company's principal asset is Denver-Julesberg (D-J) Basin asset comprising approximately 10,961 net acres located in the Weld county, Colorado.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

Receive News & Ratings for Pedevco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pedevco and related companies with MarketBeat.com's FREE daily email newsletter.