Gran Tierra Energy (TSE:GTE) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• Gran Tierra Energy's shares fell below their 200-day moving average of C$6.54, trading as low as C$5.66 before closing at C$5.73.
• Research analysts have lowered their price targets for the company, with Royal Bank of Canada adjusting its target from C$9.00 to C$8.50 and maintaining a "sector perform" rating.
• The company has a market capitalization of C$146.90 million, with a current debt-to-equity ratio of 176.57 and a price-to-earnings ratio of 2.74.

Gran Tierra Energy Inc. (TSE:GTE - Get Free Report) NYSEMKT: GTE shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$6.54 and traded as low as C$5.66. Gran Tierra Energy shares last traded at C$5.73, with a volume of 36,537 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Royal Bank Of Canada cut their price objective on Gran Tierra Energy from C$9.00 to C$8.50 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Raymond James Financial set a C$10.00 target price on Gran Tierra Energy and gave the company a "market perform" rating in a report on Friday, June 20th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$10.17.

Gran Tierra Energy Trading Up 2.1%

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 business has a 50 day moving average of C$6.13 and a 200 day moving average of C$6.54. The firm has a market capitalization of C$146.90 million, a price-to-earnings ratio of 2.74, a PEG ratio of 0.23 and a beta of 1.57.

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.

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