StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a research report issued on Wednesday. The firm set a "sell" rating on the stock.
Separately, D. Boral Capital restated a "buy" rating and issued a $1.50 price objective on shares of PEDEVCO in a research report on Wednesday, April 2nd.
View Our Latest Research Report on PED
PEDEVCO Stock Up 5.6%
Shares of NYSE:PED opened at $0.56 on Wednesday. The company has a market cap of $51.15 million, a P/E ratio of 28.01 and a beta of 0.30. PEDEVCO has a 52 week low of $0.47 and a 52 week high of $1.10. The company has a 50-day moving average price of $0.61 and a 200 day moving average price of $0.75.
Institutional Investors Weigh In On PEDEVCO
Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its position in shares of PEDEVCO by 19.7% during the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company's stock valued at $228,000 after acquiring an additional 48,132 shares during the period. Virtu Financial LLC lifted its position in shares of PEDEVCO by 129.9% during the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock valued at $30,000 after acquiring an additional 21,499 shares during the period. Finally, Citadel Advisors LLC lifted its position in shares of PEDEVCO by 232.5% during the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock valued at $145,000 after acquiring an additional 130,349 shares during the period. 3.26% of the stock is currently owned by institutional investors and hedge funds.
About PEDEVCO
(
Get Free Report)
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.
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