Petro Matad (LON:MATD) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Petro Matad Limited (LON:MATD) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1.80 ($0.02) and traded as high as GBX 2 ($0.03). Petro Matad shares last traded at GBX 1.91 ($0.02), with a volume of 2,114,969 shares traded.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reiterated a “house stock” rating on shares of Petro Matad in a report on Thursday, March 13th.

Petro Matad Stock Performance

The stock has a market capitalization of £35.15 million, a P/E ratio of -4.00 and a beta of 2.24. The business has a 50 day simple moving average of GBX 1.50 and a 200-day simple moving average of GBX 1.80.

About Petro Matad

Petro Matad Limited, together with its subsidiaries, engages in the exploration, development, and production of oil in Mongolia. It holds 100% interests in production sharing contract blocks, including Ongi Block V that covers an area of approximately 7,937 square kilometers; and Matad Block XX that consists of an area of approximately 214 square kilometers in Mongolia.