PEDEVCO (NYSE:PED) Stock Price Up 1% - Here's What Happened

PEDEVCO Corp. (NYSE:PED - Get Free Report) shares traded up 1% during trading on Friday . The company traded as high as $0.64 and last traded at $0.63. 48,669 shares were traded during trading, a decline of 66% from the average session volume of 141,996 shares. The stock had previously closed at $0.62.

Analyst Upgrades and Downgrades

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

PEDEVCO Price Performance

The firm has a market capitalization of $57.63 million, a price-to-earnings ratio of 31.57 and a beta of 0.41. The business's 50 day moving average price is $0.64 and its 200-day moving average price is $0.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC grew its position in PEDEVCO by 129.9% during the fourth quarter. Virtu Financial LLC now owns 38,045 shares of the company's stock worth $30,000 after buying an additional 21,499 shares during the period. Citadel Advisors LLC raised its holdings in PEDEVCO by 232.5% during the fourth quarter. Citadel Advisors LLC now owns 186,415 shares of the company's stock worth $145,000 after purchasing an additional 130,349 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in PEDEVCO by 19.7% in the fourth quarter. Renaissance Technologies LLC now owns 292,736 shares of the company's stock valued at $228,000 after purchasing an additional 48,132 shares during the last quarter. Institutional investors and hedge funds own 3.26% of the company's stock.

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.

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