Petro Matad (LON:MATD) Shares Up 17.1% – What’s Next?

Petro Matad Limited (LON:MATD) shot up 17.1% during trading on Wednesday . The stock traded as high as GBX 1.30 and last traded at GBX 1.23. 9,919,543 shares changed hands during trading, an increase of 61% from the average session volume of 6,154,223 shares. The stock had previously closed at GBX 1.05.

Analyst Upgrades and Downgrades

Separately, Shore Capital Group reaffirmed a “house stock” rating on shares of Petro Matad in a report on Wednesday, November 5th.

Petro Matad Price Performance

The stock’s 50-day moving average price is GBX 1.12 and its 200-day moving average price is GBX 1.03. The company has a market cap of £22.68 million, a P/E ratio of -1.81 and a beta of 2.24.

About Petro Matad

Petro Matad is a company focused on delivery of energy in Mongolia from both the hydrocarbon and renewables sectors.