Petro Matad (LON:MATD) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Petro Matad Limited (LON:MATD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1.78 ($0.02) and traded as high as GBX 1.82 ($0.02). Petro Matad shares last traded at GBX 1.79 ($0.02), with a volume of 1,374,904 shares.

Analyst Ratings Changes

Separately, Shore Capital restated a “house stock” rating on shares of Petro Matad in a research report on Thursday, March 13th.

Petro Matad Stock Down 0.7 %

The firm has a market capitalization of £33.20 million, a PE ratio of -3.78 and a beta of 2.24. The firm’s 50-day moving average price is GBX 1.53 and its two-hundred day moving average price is GBX 1.78.

About Petro Matad

Petro Matad Limited, together with its subsidiaries, engages in the exploration, development, and production of oil in Mongolia. It holds 100% interests in production sharing contract blocks, including Ongi Block V that covers an area of approximately 7,937 square kilometers; and Matad Block XX that consists of an area of approximately 214 square kilometers in Mongolia.