Petro Matad (LON:MATD) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Petro Matad Limited (LON:MATD)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 1.09 and traded as high as GBX 1.25. Petro Matad shares last traded at GBX 1.14, with a volume of 7,244,834 shares changing hands.

Wall Street Analysts Forecast Growth

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

Petro Matad Stock Performance

The business has a 50-day moving average of GBX 1.09 and a 200-day moving average of GBX 1. The stock has a market capitalization of £21.15 million, a price-to-earnings ratio of -1.69 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.