Roth Capital Upgrades PEDEVCO (NYSE:PED) to Strong-Buy

PEDEVCO (NYSE:PED) was upgraded by equities research analysts at Roth Capital to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Separately, Zacks Research upgraded shares of PEDEVCO from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. One equities research 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.com, PEDEVCO has a consensus rating of “Buy” and a consensus price target of $1.50.

PEDEVCO Stock Down 3.6%

NYSE PED opened at $0.54 on Monday. The firm has a market capitalization of $49.67 million, a PE ratio of 27.01 and a beta of 0.21. The stock’s 50 day moving average is $0.59 and its 200 day moving average is $0.62. PEDEVCO has a twelve month low of $0.47 and a twelve month high of $1.00.

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.