Short Interest in Pedevco Corp. (NYSEAMERICAN:PED) Drops By 53.0%

Key Points

• Short interest in Pedevco Corp. dropped by 53.0% in September, from 149,400 shares to 70,200 shares, indicating a significant decrease in bearish sentiment.
• The company's stock price increased by 0.4% to $0.57, and it currently has a market cap of approximately $52.71 million with a price-to-earnings ratio of 4.09.
• Pedevco focuses on acquiring and developing oil and natural gas assets in the United States, with interests in key areas such as the Permian Basin and D-J Basin.

Pedevco Corp. (NYSEAMERICAN:PED - ) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totaling 70,200 shares, a drop of 53.0% from the September 15th total of 149,400 shares. Based on an average daily volume of 116,500 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company's shares are short sold. Approximately 0.3% of the company's shares are short sold. Based on an average daily volume of 116,500 shares, the days-to-cover ratio is currently 0.6 days.

Pedevco Stock Up 0.4%

Shares of PED stock traded up $0.00 during mid-day trading on Monday, hitting $0.57. 32,652 shares of the company's stock were exchanged, compared to its average volume of 168,035. Pedevco has a fifty-two week low of $0.47 and a fifty-two week high of $1.02. The stock has a market cap of $52.71 million, a price-to-earnings ratio of 4.09 and a beta of 0.20. The stock has a 50-day simple moving average of $0.59 and a two-hundred day simple moving average of $0.61.

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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