PEDEVCO (NYSE:PED) Trading 1.6% Higher - What's Next?

Key Points

• PEDEVCO Corp. shares rose by 1.6% to $0.62, although trading volume significantly decreased by 58% from the average.
• Citadel Advisors LLC increased its position in PEDEVCO by 232.5% during the fourth quarter, acquiring an additional 130,349 shares.
• Wall Street analysts have mixed views on PEDEVCO, with a recent report from D. Boral Capital maintaining a "buy" rating and setting a price target of $1.50, while Wall Street Zen initiated coverage with a "sell" rating.

PEDEVCO Corp. (NYSE:PED - Get Free Report)'s stock price was up 1.6% on Tuesday . The stock traded as high as $0.62 and last traded at $0.62. Approximately 78,012 shares were traded during trading, a decline of 58% from the average daily volume of 186,891 shares. The stock had previously closed at $0.61.

Analyst Ratings Changes

Several brokerages recently issued reports on PED. Wall Street Zen began coverage on PEDEVCO in a research report on Thursday, May 22nd. They issued a "sell" rating for the company. D. Boral Capital reiterated a "buy" rating and issued a $1.50 price target on shares of PEDEVCO in a report on Tuesday, May 20th.

PEDEVCO Trading Down 2.3%

The stock has a market cap of $55.61 million, a price-to-earnings ratio of 30.30 and a beta of 0.39. The company has a 50 day simple moving average of $0.66 and a 200-day simple moving average of $0.67.

Hedge Funds Weigh In On PEDEVCO

A hedge fund recently raised its stake in PEDEVCO stock. Citadel Advisors LLC boosted its position in shares of PEDEVCO Corp. (NYSE:PED - Free Report) by 232.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,415 shares of the company's stock after acquiring an additional 130,349 shares during the quarter. Citadel Advisors LLC owned 0.21% of PEDEVCO worth $145,000 at the end of the most recent reporting period. 3.26% of the stock is owned by hedge funds and other institutional investors.

PEDEVCO Company Profile

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.