PEDEVCO (NYSE:PED) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of PEDEVCO (NYSE:PED) in a research note issued on Tuesday. The firm set a “sell” rating on the stock.

PEDEVCO Stock Performance

PED stock opened at $0.89 on Tuesday. The company’s 50 day moving average price is $0.93 and its 200 day moving average price is $0.93. The firm has a market capitalization of $79.02 million, a price-to-earnings ratio of 44.27 and a beta of 0.60. PEDEVCO has a fifty-two week low of $0.61 and a fifty-two week high of $1.10.

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.