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

Equities researchers at StockNews.com began coverage on shares of PEDEVCO (NYSE:PED) in a note issued to investors on Saturday. The firm set a “sell” rating on the stock.

Separately, D. Boral Capital lowered their target price on shares of PEDEVCO from $2.25 to $1.50 and set a “buy” rating for the company in a report on Wednesday, November 20th.

PEDEVCO Trading Down 0.1 %

NYSE PED opened at $0.74 on Friday. The company has a market capitalization of $66.07 million, a PE ratio of 37.02 and a beta of 0.51. The business’s 50-day moving average price is $0.87 and its 200 day moving average price is $0.91. PEDEVCO has a twelve month low of $0.61 and a twelve month high of $1.10.

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.