Petro Matad (LON:MATD) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of Petro Matad Limited (LON:MATD) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1.03 and traded as low as GBX 1. Petro Matad shares last traded at GBX 1, with a volume of 2,155,845 shares traded.

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “house stock” rating on shares of Petro Matad in a research note on Wednesday, November 5th.

Petro Matad Stock Down 0.6%

The firm has a 50 day moving average of GBX 1.17 and a 200 day moving average of GBX 1.03. The firm has a market cap of £19.20 million, a PE ratio of -1.54 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.