Petro Matad (LON:MATD) Trading Down 38.7%

Shares of Petro Matad Limited (LON:MATD) traded down 38.7% on Wednesday . The company traded as low as GBX 2.10 ($0.03) and last traded at GBX 2.30 ($0.03). 138,277,438 shares traded hands during trading, an increase of 2,502% from the average session volume of 5,314,334 shares. The stock had previously closed at GBX 3.75 ($0.05).

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a “house stock” rating on shares of Petro Matad in a research note on Monday, March 4th.

Petro Matad Trading Up 1.0 %

The company has a market cap of £26.90 million, a price-to-earnings ratio of -15.50 and a beta of 2.01. The business’s fifty day moving average price is GBX 3.44 and its 200 day moving average price is GBX 3.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 28.92 and a quick ratio of 16.91.

Petro Matad Company Profile

Petro Matad Limited, together with its subsidiaries, explores for, develops, and produces 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 218 square kilometers in Mongolia.