PEDEVCO Corp. [AMEX: PED] gained 8.44% or 0.13 points to close at $1.67 with a heavy trading volume of 11489471 shares. The company report on March 23, 2021 that PEDEVCO Announces Successful New Wells and Adds $1.9 Million Cash through Sale of Non-Core Assets.
Over $18.5 Million Cash on Balance Sheet and Zero Debt.
PEDEVCO Corp. (NYSE American:PED) (the “Company”) announced the results of two horizontal San Andres wells drilled and completed in its Phase II development program, as well as the sale of certain non-core assets in the D-J Basin which added approximately $1.9 million in cash to the Company’s balance sheet.
It opened the trading session at $1.72, the shares rose to $1.81 and dropped to $1.53, the range by which the price of stock traded the whole day. The daily chart for PED points out that the company has recorded 53.21% gains over the past six months. However, it is still -149.25% lower than its most recent low trading price.
If we look at the average trading volume of 2.60M shares, PED reached to a volume of 11489471 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about PEDEVCO Corp. [PED]:
ROTH Capital have made an estimate for PEDEVCO Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 06, 2015.
The Average True Range (ATR) for PEDEVCO Corp. is set at 0.18, with the Price to Sales ratio for PED stock in the period of the last 12 months amounting to 12.71. The Price to Book ratio for the last quarter was 1.23, with the Price to Cash per share for the same quarter was set at 0.11.
Trading performance analysis for PED stock
PEDEVCO Corp. [PED] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.45. With this latest performance, PED shares dropped by -16.50% in over the last four-week period, additionally plugging by 53.21% over the last 6 months – not to mention a rise of 103.66% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PED stock in for the last two-week period is set at 52.93, with the RSI for the last a single of trading hit 56.62, and the three-weeks RSI is set at 51.91 for PEDEVCO Corp. [PED]. The present Moving Average for the last 50 days of trading for this stock 1.6498, while it was recorded at 1.5600 for the last single week of trading, and 1.2819 for the last 200 days.
PEDEVCO Corp. [PED]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and PEDEVCO Corp. [PED] shares currently have an operating margin of -83.03 and a Gross Margin at -38.44. PEDEVCO Corp.’s Net Margin is presently recorded at -85.58.
Return on Total Capital for PED is now -13.37, given the latest momentum, and Return on Invested Capital for the company is -13.79. Return on Equity for this stock declined to -18.13, with Return on Assets sitting at -11.66. When it comes to the capital structure of this company, PEDEVCO Corp. [PED] has a Total Debt to Total Equity ratio set at 0.38. Additionally, PED Total Debt to Total Capital is recorded at 0.37, with Total Debt to Total Assets ending up at 0.32. Long-Term Debt to Equity for the company is recorded at 0.28, with the Long-Term Debt to Total Capital now at 0.28.
Reflecting on the efficiency of the workforce at the company, PEDEVCO Corp. [PED] managed to generate an average of -$693,875 per employee. Receivables Turnover for the company is 4.77 with a Total Asset Turnover recorded at a value of 0.14.PEDEVCO Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.70 and a Current Ratio set at 4.70.
An analysis of insider ownership at PEDEVCO Corp. [PED]
There are presently around $2 million, or 1.40% of PED stock, in the hands of institutional investors. The top three institutional holders of PED stocks are: VANGUARD GROUP INC with ownership of 521,101, which is approximately 16.943% of the company’s market cap and around 14.40% of the total institutional ownership; BRIDGEWAY CAPITAL MANAGEMENT, LLC, holding 284,200 shares of the stock with an approximate value of $0.47 million in PED stocks shares; and TRAYNOR CAPITAL MANAGEMENT, INC., currently with $0.17 million in PED stock with ownership of nearly New of the company’s market capitalization.
Positions in PEDEVCO Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 6 institutional holders increased their position in PEDEVCO Corp. [AMEX:PED] by around 209,231 shares. Additionally, 3 investors decreased positions by around 37,485 shares, while 5 investors held positions by with 792,999 shares. The mentioned changes placed institutional holdings at 1,039,715 shares, according to the latest SEC report filing. PED stock had 3 new institutional investments in for a total of 126,925 shares, while 2 institutional investors sold positions of 37,225 shares during the same period.