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

StockNews.com started coverage on shares of PEDEVCO (NYSE:PED) in a research note published on Saturday. The brokerage issued a sell rating on the stock.

Separately, D. Boral Capital reduced their price objective on PEDEVCO from $2.25 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 20th.

PEDEVCO Stock Performance

Shares of PED stock opened at $0.74 on Friday. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10. The stock’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $0.91. The company has a market cap of $66.07 million, a PE ratio of 37.02 and a beta of 0.51.

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.