Gran Tierra Energy (TSE:GTE) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.54 and traded as high as C$7.72. Gran Tierra Energy shares last traded at C$7.54, with a volume of 69,252 shares.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GTE. Canaccord Genuity Group cut Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 target price for the company. in a report on Tuesday, January 27th. Royal Bank Of Canada decreased their price objective on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating for the company in a report on Friday, December 12th. Finally, Roth Mkm cut shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$8.17.

Gran Tierra Energy Stock Performance

The business has a 50-day moving average of C$6.54 and a two-hundred day moving average of C$6.04. The company has a debt-to-equity ratio of 176.57, a current ratio of 1.31 and a quick ratio of 0.58. The company has a market cap of C$266.13 million, a P/E ratio of -2.93, a P/E/G ratio of 0.23 and a beta of 1.22.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.