PEDEVCO Corp. (NYSEAMERICAN:PED) Sees Large Decrease in Short Interest

PEDEVCO Corp. (NYSEAMERICAN:PED) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 22,900 shares, a drop of 25.9% from the August 15th total of 30,900 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 71,500 shares, the short-interest ratio is currently 0.3 days.

PEDEVCO Stock Performance

Shares of PED stock traded down $0.01 during trading hours on Monday, hitting $0.92. 24,585 shares of the company’s stock were exchanged, compared to its average volume of 100,574. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10. The stock has a market capitalization of $80.01 million, a PE ratio of 31.02 and a beta of 1.32.

PEDEVCO (NYSEAMERICAN:PED) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 3.71% and a net margin of 11.32%. The company had revenue of $11.81 million for the quarter, compared to the consensus estimate of $9.05 million. As a group, analysts forecast that PEDEVCO will post 0.12 earnings per share for the current fiscal year.

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.