PEDEVCO (NYSE:PED) Trading Up 11.9% – What’s Next?

PEDEVCO Corp. (NYSE:PED)’s stock price was up 11.9% during trading on Monday . The stock traded as high as $0.7056 and last traded at $0.6982. Approximately 1,855,881 shares changed hands during mid-day trading, an increase of 796% from the average daily volume of 207,142 shares. The stock had previously closed at $0.6237.

Analyst Upgrades and Downgrades

PED has been the topic of a number of recent research reports. Roth Mkm upgraded shares of PEDEVCO to a “strong-buy” rating in a research note on Monday, November 17th. Zacks Research raised PEDEVCO to a “hold” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $1.50.

PEDEVCO Price Performance

The company has a market cap of $56.17 million, a PE ratio of 29.41 and a beta of 0.35. The stock’s 50-day moving average is $0.59 and its 200 day moving average is $0.58.

PEDEVCO’s stock is going to reverse split on Friday, March 13th. The 1-20 reverse split was announced on Tuesday, March 3rd. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, March 12th.

Institutional Investors Weigh In On PEDEVCO

An institutional investor recently bought a new position in PEDEVCO stock. Juniper Capital Advisors L.P. purchased a new position in shares of PEDEVCO Corp. (NYSE:PED) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 196,359 shares of the company’s stock, valued at approximately $110,000. PEDEVCO comprises about 0.0% of Juniper Capital Advisors L.P.’s portfolio, making the stock its 2nd largest position. Juniper Capital Advisors L.P. owned approximately 0.21% of PEDEVCO at the end of the most recent quarter. 3.26% of the stock is owned by institutional investors.

PEDEVCO Company Profile

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.