Petro Matad (LON:MATD) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Petro Matad Limited (LON:MATD) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2.30 ($0.03) and traded as low as GBX 1.55 ($0.02). Petro Matad shares last traded at GBX 1.60 ($0.02), with a volume of 478,911 shares traded.

Petro Matad Trading Up 3.2 %

The company has a current ratio of 10.02, a quick ratio of 16.91 and a debt-to-equity ratio of 0.03. The stock has a market cap of £23.68 million, a P/E ratio of -15.50 and a beta of 2.24. The business’s fifty day simple moving average is GBX 1.71 and its 200 day simple moving average is GBX 2.30.

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.