Pedevco Corp (NYSEAMERICAN:PED)’s share price shot up 15.8% during trading on Wednesday . The company traded as high as $1.49 and last traded at $1.10. 601,354 shares changed hands during trading, an increase of 267% from the average session volume of 163,759 shares. The stock had previously closed at $0.95.
Separately, TheStreet lowered Pedevco from a “c-” rating to a “d+” rating in a research note on Monday, December 17th.
Pedevco (NYSEAMERICAN:PED) last posted its quarterly earnings data on Wednesday, November 14th. The company reported ($0.19) EPS for the quarter. The business had revenue of $1.26 million during the quarter.
In other Pedevco news, CEO Simon G. Kukes purchased 225,000 shares of the firm’s stock in a transaction dated Friday, December 21st. The shares were bought at an average price of $0.74 per share, for a total transaction of $166,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ivar Siem purchased 180,000 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The stock was acquired at an average price of $0.59 per share, for a total transaction of $106,200.00. The disclosure for this purchase can be found here.
Several institutional investors and hedge funds have recently modified their holdings of PED. Shufro Rose & Co. LLC increased its stake in shares of Pedevco by 51.3% in the 3rd quarter. Shufro Rose & Co. LLC now owns 147,778 shares of the company’s stock valued at $327,000 after purchasing an additional 50,075 shares during the last quarter. Vanguard Group Inc. bought a new position in shares of Pedevco in the 3rd quarter valued at $134,000. Finally, Vanguard Group Inc bought a new position in shares of Pedevco in the 3rd quarter valued at $134,000.
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About Pedevco (NYSEAMERICAN:PED)
PEDEVCO Corp., doing business as Pacific Energy Development, engages in the acquisition, exploration, development, and production of oil and natural gas shale plays in the United States. The company's principal asset is Denver-Julesberg (D-J) Basin asset comprising approximately 10,961 net acres located in the Weld county, Colorado.
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