Pedevco Corp. (NYSEAMERICAN:PED) Sees Large Growth in Short Interest

Key Points

• Pedevco experienced a 125.4% increase in short interest in March to 34,091 shares, equal to about 2.4% of shares outstanding and a days-to-cover of 0.6.
• Shares traded at $16.39 mid-day, with a market capitalization of $78.34 million and a trailing P/E of 7.45, above its 50‑day and 200‑day SMAs of $14.31 and $12.35 respectively.
• Institutional activity included Juniper Capital Advisors buying a new position of 196,359 shares (valued at roughly $110,000), and overall institutional ownership stands near 3.26%.

Pedevco Corp. (NYSEAMERICAN:PED - Get Free Report) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totaling 34,091 shares, an increase of 125.4% from the March 15th total of 15,126 shares. Based on an average daily trading volume, of 55,997 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.4% of the shares of the company are short sold.

Pedevco Stock Performance

Pedevco stock traded up $0.37 during mid-day trading on Friday, reaching $16.39. 29,723 shares of the company's stock were exchanged, compared to its average volume of 50,188. The business's fifty day simple moving average is $14.31 and its 200 day simple moving average is $12.35. The firm has a market capitalization of $78.34 million, a PE ratio of 7.45 and a beta of 0.24. Pedevco has a one year low of $8.64 and a one year high of $18.89. The company has a quick ratio of 0.58, a current ratio of 0.59 and a debt-to-equity ratio of 0.46.

Institutional Trading of Pedevco

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. bought a new position in Pedevco Corp. (NYSEAMERICAN:PED - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 196,359 shares of the company's stock, valued at approximately $110,000. Pedevco comprises 0.0% of Juniper Capital Advisors L.P.'s holdings, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco as of its most recent filing with the Securities & Exchange Commission. 3.26% of the stock is owned by institutional investors and hedge funds.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean's most prolific hydrocarbon-producing regions.

The company's portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.

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