PEDEVCO (NYSE:PED) Trading Up 2.5% – Should You Buy?

PEDEVCO Corp. (NYSE:PED) traded up 2.5% on Monday . The company traded as high as $0.58 and last traded at $0.5680. 182,251 shares were traded during trading, an increase of 5% from the average session volume of 173,654 shares. The stock had previously closed at $0.5540.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PED shares. Roth Capital upgraded shares of PEDEVCO to a “strong-buy” rating in a research report on Monday, November 17th. Zacks Research upgraded shares of PEDEVCO to a “hold” rating in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PEDEVCO presently has a consensus rating of “Buy” and a consensus price target of $1.50.

PEDEVCO Stock Up 2.5%

The stock has a market capitalization of $54.25 million, a P/E ratio of 28.41 and a beta of 0.32. The firm’s 50-day simple moving average is $0.56 and its 200 day simple moving average is $0.60.

Insider Activity at PEDEVCO

In other news, VP Moore Clark sold 58,333 shares of the stock in a transaction on Monday, November 24th. The stock was sold at an average price of $0.46, for a total transaction of $26,833.18. Following the completion of the sale, the vice president owned 1,522,001 shares in the company, valued at approximately $700,120.46. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Douglas Schick sold 66,666 shares of the firm’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $0.46, for a total value of $30,666.36. Following the sale, the chief executive officer directly owned 3,510,467 shares of the company’s stock, valued at approximately $1,614,814.82. This represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 178,313 shares of company stock valued at $82,024. Company insiders own 70.40% of the company’s stock.

PEDEVCO Company Profile

Pedevco Corp is an independent energy company engaged in the acquisition, exploration, development and production of oil and natural gas properties. The company focuses on leveraging a low-cost development model to unlock value from its onshore assets, applying reservoir characterization, well optimization and cost-effective completion techniques. Pedevco’s operational strategy emphasizes efficient use of existing infrastructure and disciplined capital allocation to maximize production and reserves recovery.

The company’s asset portfolio is concentrated in onshore U.S.