PEDEVCO (NYSE:PED) Coverage Initiated at Wall Street Zen

Stock analysts at Wall Street Zen began coverage on shares of PEDEVCO (NYSE:PED - Get Free Report) in a research note issued to investors on Thursday. The brokerage set a "sell" rating on the stock.

Separately, D. Boral Capital reaffirmed a "buy" rating and issued a $1.50 price target on shares of PEDEVCO in a report on Tuesday, May 20th.

PEDEVCO Stock Performance

Shares of NYSE PED traded down $0.00 during midday trading on Thursday, hitting $0.65. The company's stock had a trading volume of 30,368 shares, compared to its average volume of 98,754. PEDEVCO has a 1-year low of $0.47 and a 1-year high of $1.10. The firm's fifty day moving average price is $0.60 and its 200-day moving average price is $0.73. The firm has a market cap of $59.00 million, a P/E ratio of 32.32 and a beta of 0.30.

Institutional Trading of PEDEVCO

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC raised its holdings in shares of PEDEVCO by 232.5% in the 4th quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock worth $145,000 after purchasing an additional 130,349 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of PEDEVCO by 19.7% in the 4th quarter. Renaissance Technologies LLC now owns 292,736 shares of the company's stock worth $228,000 after purchasing an additional 48,132 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of PEDEVCO by 129.9% in the 4th quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock worth $30,000 after purchasing an additional 21,499 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

About PEDEVCO

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.