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

StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report report published on Wednesday. The firm issued a sell rating on the stock.

Separately, D. Boral Capital cut their price target 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 Price Performance

Shares of NYSE PED opened at $0.84 on Wednesday. The business has a 50-day moving average of $0.93 and a 200-day moving average of $0.92. The stock has a market capitalization of $74.73 million, a price-to-earnings ratio of 41.85 and a beta of 0.60. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10.

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.