Pedevco Corp. (NYSEAMERICAN:PED) Sees Significant Growth in Short Interest

Pedevco Corp. (NYSEAMERICAN:PED) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 12,055 shares, a growth of 62.4% from the February 12th total of 7,421 shares. Based on an average trading volume of 293,685 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 293,685 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. acquired a new stake in shares of Pedevco Corp. (NYSEAMERICAN:PED) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up about 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd biggest position. Juniper Capital Advisors L.P. owned about 0.21% of Pedevco as of its most recent filing with the SEC. Institutional investors and hedge funds own 3.26% of the company’s stock.

Pedevco Price Performance

Shares of NYSEAMERICAN:PED traded up $2.68 during mid-day trading on Friday, reaching $18.18. 101,780 shares of the company traded hands, compared to its average volume of 48,566. The company’s 50 day moving average price is $12.29 and its 200-day moving average price is $11.73. The firm has a market cap of $86.90 million, a PE ratio of 8.26 and a beta of 0.37. Pedevco has a 52 week low of $8.64 and a 52 week high of $18.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Roth Mkm upgraded Pedevco to a “strong-buy” rating in a research note on Monday, November 17th. Zacks Research raised shares of Pedevco to a “hold” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $30.00.

About Pedevco

Pedevco Corp is an independent oil and gas exploration and production company incorporated in Delaware and listed on the NYSE American under the ticker symbol PED. The firm focuses on acquiring, developing and producing hydrocarbon assets, with a strategic emphasis on shallow water and onshore properties in Trinidad and Tobago. Since its listing, Pedevco has pursued opportunities to expand reserves through targeted exploration and development projects in one of the Caribbean’s most prolific hydrocarbon-producing regions.

The company’s portfolio centers on two primary concession areas in Trinidad and Tobago: the O-55 shallow water offshore block and the onshore Block 3(a) license.