Short Interest in Pedevco Corp. (NYSEAMERICAN:PED) Rises By 222.0%

Pedevco Corp. (NYSEAMERICAN:PED) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 137,008 shares, an increase of 222.0% from the June 15th total of 42,553 shares. Based on an average daily volume of 122,734 shares, the short-interest ratio is presently 1.1 days. Currently, 3.5% of the shares of the company are sold short.

Insiders Place Their Bets

In related news, VP Moore Clark sold 18,797 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $14.67, for a total transaction of $275,751.99. Following the sale, the vice president owned 54,428 shares in the company, valued at approximately $798,458.76. This trade represents a 25.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martyn Willsher purchased 13,428 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average price of $14.29 per share, for a total transaction of $191,886.12. Following the transaction, the director owned 25,727 shares of the company’s stock, valued at $367,638.83. This trade represents a 109.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 70.40% of the company’s stock.

Institutional Trading of Pedevco

A hedge fund recently bought a new position in Pedevco stock. Juniper Capital Advisors L.P. purchased a new stake in Pedevco Corp. (NYSEAMERICAN:PED) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 196,359 shares of the company’s stock, valued at approximately $110,000. Pedevco makes up approximately 0.0% of Juniper Capital Advisors L.P.’s holdings, making the stock its 2nd biggest holding. Juniper Capital Advisors L.P. owned approximately 0.21% of Pedevco at the end of the most recent reporting period. Hedge funds and other institutional investors own 3.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research cut Pedevco from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Pedevco Trading Down 2.6%

Shares of PED stock opened at $12.49 on Wednesday. Pedevco has a 1-year low of $8.64 and a 1-year high of $18.89. The company has a market cap of $166.12 million, a price-to-earnings ratio of 416.47 and a beta of 0.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.67. The stock has a 50 day simple moving average of $13.34 and a 200-day simple moving average of $13.57.

Pedevco (NYSEAMERICAN:PED) last released its quarterly earnings results on Thursday, May 14th. The company reported ($3.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($3.90). The company had revenue of $40.22 million during the quarter, compared to analyst estimates of $37.65 million. Pedevco had a negative net margin of 46.78% and a negative return on equity of 3.20%. On average, equities research analysts expect that Pedevco will post 0.7 EPS for the current fiscal year.

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.