Market Analysts see PEDEVCO Corp. [PED] falling to $0.80. Time to buy?



PEDEVCO Corp. [AMEX: PED] loss -0.60% on the last trading session, reaching $1.67 price per share at the time. The company report on October 7, 2021 that PEDEVCO Corp. Announces Closing of $7 Million Registered Direct Offering of Common Stock.

PEDEVCO Corp. (NYSE American:PED) (“PEDEVCO” or the “Company”), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., announced that it has closed its previously announced registered direct offering with a certain institutional investor, pursuant to which the Company sold approximately $7.0 million worth of common stock.

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Under the terms of the securities purchase agreement entered into with the investor, the Company sold approximately 4.5 million shares of common stock, at a price of $1.57 per share. The net proceeds to the Company from the registered direct offering after deducting the placement agent’s fees and other estimated offering expenses are estimated to be approximately $6.4 million. The Company intends to use the majority of the net proceeds from the offering, (i) to fund the Company’s 2021 Permian Basin and D-J Basin asset development programs, (ii) to fund potential acquisition opportunities, and (iii) for general corporate purposes and working capital.

PEDEVCO Corp. represents 79.46 million in outstanding shares, while the company has a total market value of $145.46 million with the latest information. PED stock price has been found in the range of $1.60 to $1.76.

If compared to the average trading volume of 4.55M shares, PED reached a trading volume of 5377850 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 0.22, with the Price to Sales ratio for PED stock in the period of the last 12 months amounting to 12.33. The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 0.22. Price to Free Cash Flow for PED in the course of the last twelve months was 484.86 with Quick ratio for the last quarter at 9.30.

Trading performance analysis for PED stock

PEDEVCO Corp. [PED] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.14. With this latest performance, PED shares gained by 18.44% in over the last four-week period, additionally plugging by 42.74% over the last 6 months – not to mention a rise of 1.21% 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 51.01, with the RSI for the last a single of trading hit 46.31, and the three-weeks RSI is set at 53.10 for PEDEVCO Corp. [PED]. The present Moving Average for the last 50 days of trading for this stock 1.3835, while it was recorded at 1.7760 for the last single week of trading, and 1.4421 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 -179.81 and a Gross Margin at -96.17. PEDEVCO Corp.’s Net Margin is presently recorded at -405.63.

Return on Total Capital for PED is now -15.91, given the latest momentum, and Return on Invested Capital for the company is -35.98. Return on Equity for this stock declined to -36.09, with Return on Assets sitting at -32.29. When it comes to the capital structure of this company, PEDEVCO Corp. [PED] has a Total Debt to Total Equity ratio set at 0.89. Additionally, PED Total Debt to Total Capital is recorded at 0.88, with Total Debt to Total Assets ending up at 0.84. Long-Term Debt to Equity for the company is recorded at 0.37, with the Long-Term Debt to Total Capital now at 0.36.

Reflecting on the efficiency of the workforce at the company, PEDEVCO Corp. [PED] managed to generate an average of -$2,179,333 per employee. Receivables Turnover for the company is 3.06 with a Total Asset Turnover recorded at a value of 0.08.PEDEVCO Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.30 and a Current Ratio set at 9.30.

An analysis of insider ownership at PEDEVCO Corp. [PED]

There are presently around $3 million, or 2.00% of PED stock, in the hands of institutional investors. The top three institutional holders of PED stocks are: VANGUARD GROUP INC with ownership of 592,340, which is approximately 6.334% of the company’s market cap and around 4.40% of the total institutional ownership; BRIDGEWAY CAPITAL MANAGEMENT, LLC, holding 430,146 shares of the stock with an approximate value of $0.72 million in PED stocks shares; and PINNACLE ASSOCIATES LTD, currently with $0.22 million in PED stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in PEDEVCO Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 8 institutional holders increased their position in PEDEVCO Corp. [AMEX:PED] by around 264,200 shares. Additionally, 8 investors decreased positions by around 156,827 shares, while 4 investors held positions by with 1,235,077 shares. The mentioned changes placed institutional holdings at 1,656,104 shares, according to the latest SEC report filing. PED stock had 5 new institutional investments in for a total of 153,405 shares, while 2 institutional investors sold positions of 70,564 shares during the same period.



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