Gran Tierra Energy (TSE:GTE) Shares Pass Below 200-Day Moving Average - Time to Sell?

Key Points

• Gran Tierra Energy's stock price fell below its 200-day moving average of C$6.34, reaching a low of C$5.33 during trading.
• Royal Bank of Canada has reduced its price objective for the company from C$9.00 to C$8.50, while the average target price among analysts is C$10.17.
• The company has a debt-to-equity ratio of 176.57 and a market capitalization of C$189.51 million.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$6.34 and traded as low as C$5.33. Gran Tierra Energy shares last traded at C$5.37, with a volume of 36,216 shares trading hands.

Analyst Upgrades and Downgrades

GTE has been the subject of a number of recent research reports. Raymond James Financial set a C$10.00 price target on shares of Gran Tierra Energy and gave the company a "market perform" rating in a research report on Friday, June 20th. Royal Bank Of Canada decreased their target price on shares of Gran Tierra Energy from C$9.00 to C$8.50 and set a "sector perform" rating for the company in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of C$10.17.

Gran Tierra Energy Price Performance

The company has a quick ratio of 0.58, a current ratio of 1.31 and a debt-to-equity ratio of 176.57. The firm's fifty day moving average price is C$5.76 and its two-hundred day moving average price is C$6.33. The stock has a market capitalization of C$191.28 million, a PE ratio of -2.78, a PEG ratio of 0.23 and a beta of 0.70.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.