PEDEVCO Corp. (PED) – The 69.86% Upside Potential Remains

PEDEVCO Corp. (AMEX: PED) is 27.11% higher on its value in year-to-date trading and has touched a low of $0.67 and a high of $2.00 in the current 52-week trading range. The PED stock was last observed hovering at around $0.79 in the last trading session, with the day’s gains setting it 1.32% off its average median price target of $7.00 for the next 12 months. It is also 69.86% off the consensus price target high of $7.00 offered by 1 analysts, but current levels are 69.86% higher than the price target low of $7.00 for the same period.

Currently trading at $2.11, the stock is 159.62% and 155.97% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 101.74 million and changing 168.72% at the moment leaves the stock 89.97% off its SMA200. PED registered 35.26% gain for a year compared to 6-month loss of 108.91%. The firm has a 50-day simple moving average (SMA 50) of $0.8230 and a 200-day simple moving average (SMA200) of $0.8928.

The stock witnessed a 131.82% gain in the last 1 month and extending the period to 3 months gives it a 177.63%, and is 166.45% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 17.24% over the week and 8.74% over the month.

PEDEVCO Corp. (PED) has around 16 employees, a market worth around $150.61M and $10.80M in sales. Distance from 52-week low is 216.44% and 5.50% from its 52-week high. The company has generated returns on investments over the last 12 months (-9.70%).

PEDEVCO Corp. (PED) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for PEDEVCO Corp. (PED) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

PEDEVCO Corp. is expected to release its quarterly report on 08/27/2020 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to shrink by -104.60% this year.

PEDEVCO Corp. (PED) Top Institutional Holders

16 institutions hold shares in PEDEVCO Corp. (PED), with 63.67M shares held by insiders accounting for 88.27% while institutional investors hold 5.22% of the company’s shares. The shares outstanding are 72.13M, and float is at 8.40M with Short Float at 3.96%. Institutions hold 0.61% of the Float.

PEDEVCO Corp. (PED) Insider Activity

A total of 1 insider transactions have happened at PEDEVCO Corp. (PED) in the last six months, with sales accounting for 1 and purchases happening 0 times. The most recent transaction is an insider sale by SCELFO JOHN J, the company’s Director. SEC filings show that SCELFO JOHN J sold 31,500 shares of the company’s common stock on Jul 13 at a price of $0.77 per share for a total of $24255.0. Following the sale, the insider now owns 49500.0 shares.

PEDEVCO Corp. (PED): Who are the competitors?

The company’s main competitors (and peers) include Dawson Geophysical Company (DWSN) that is trading -25.59% down over the past 12 months. RigNet Inc. (RNET) is -44.60% down on the 1-year trading charts. Short interest in the company’s stock has fallen -6.12% from the last report on Jul 14, 2020 to stand at a total of 0.35 million short shares sold with a short interest ratio of 9.41.