PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of PEDEVCO (NYSE:PED) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the stock.

PEDEVCO Price Performance

Shares of NYSE PED opened at $0.86 on Tuesday. The company’s 50 day simple moving average is $0.93 and its 200 day simple moving average is $0.93. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The firm has a market capitalization of $76.83 million, a P/E ratio of 43.05 and a beta of 0.60.

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.