Gran Tierra Energy (TSE:GTE) Stock Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Gran Tierra Energy Inc. shares have fallen below the 200-day moving average of C$6.44, trading as low as C$5.50.
• Royal Bank Of Canada has reduced its target price for Gran Tierra Energy from C$9.00 to C$8.50, while the average price target from analysts stands at C$10.17.
• The company's current market cap is C$196.57 million, with a negative PE ratio of -2.86 and a high debt-to-equity ratio of 176.57.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE's share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$6.44 and traded as low as C$5.50. Gran Tierra Energy shares last traded at C$5.57, with a volume of 16,893 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GTE shares. Royal Bank Of Canada lowered 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 research note on Friday, August 1st. Raymond James Financial set a C$10.00 target price on shares of Gran Tierra Energy and gave the stock a "market perform" rating in a research note on Friday, June 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Gran Tierra Energy currently has an average rating of "Hold" and a consensus price target of C$10.17.

Gran Tierra Energy Stock Up 0.8%

The company has a debt-to-equity ratio of 176.57, a current ratio of 1.31 and a quick ratio of 0.58. The company has a market cap of C$188.10 million, a price-to-earnings ratio of -2.73, a P/E/G ratio of 0.23 and a beta of 0.70. The firm's 50 day simple moving average is C$5.88 and its 200-day simple moving average is C$6.37.

Gran Tierra Energy Company Profile

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.