Prio (OTCMKTS:PTRRY) Shares Down 14.7% – What’s Next?

Prio S.A. (OTCMKTS:PTRRY)’s stock price fell 14.7% during trading on Monday. The company traded as low as C$12.60 and last traded at C$12.76. Approximately 22,440 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 46,915 shares. The stock had previously closed at C$14.96.

Analyst Ratings Changes

Separately, Zacks Research cut Prio from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Prio currently has an average rating of “Sell”.

Prio Price Performance

The business’s 50 day moving average is C$12.51 and its 200 day moving average is C$11.76.

About Prio

Prio SA, formerly known as PetroRio, is an independent Brazilian oil and gas company focused on the exploration, production and development of offshore hydrocarbon assets. The company’s strategy centers on acquiring and redeveloping producing or mature fields, applying operational improvements and enhanced-recovery techniques to extend their productive lives.

Prio’s activities are concentrated in Brazil, particularly in the country’s offshore basins. Its portfolio has included producing fields and related infrastructure in the Campos Basin, such as the Frade, Polvo and Tubarão Martelo fields, as well as development projects including Wahoo.