PEDEVCO (NYSE:PED) Earns Sell Rating from Analysts at StockNews.com

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

Separately, Alliance Global Partners initiated coverage on PEDEVCO in a report on Wednesday, July 17th. They set a buy rating and a $1.75 target price on the stock.

PEDEVCO Stock Performance

PEDEVCO stock opened at $0.92 on Monday. The business’s fifty day moving average is $0.92 and its two-hundred day moving average is $0.90. The firm has a market cap of $82.15 million, a P/E ratio of 92.09 and a beta of 0.58. PEDEVCO has a 52 week low of $0.61 and a 52 week high of $1.10.

PEDEVCO (NYSE:PED) last announced its earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $11.81 million for the quarter, compared to analysts’ expectations of $9.05 million. PEDEVCO had a return on equity of 0.38% and a net margin of 1.12%. On average, equities research analysts predict that PEDEVCO will post 0.08 earnings per share for the current 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.