PEDEVCO Corp. (NYSEAMERICAN:PED) Sees Significant Decline in Short Interest

PEDEVCO Corp. (NYSEAMERICAN:PED) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 22,900 shares, a decline of 25.9% from the August 15th total of 30,900 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 71,500 shares, the short-interest ratio is currently 0.3 days.

PEDEVCO Trading Up 2.7 %

Shares of NYSEAMERICAN PED traded up $0.02 during trading on Friday, reaching $0.93. The company had a trading volume of 94,125 shares, compared to its average volume of 101,001. PEDEVCO has a 12 month low of $0.61 and a 12 month high of $1.13. The firm has a market capitalization of $80.98 million, a PE ratio of 31.02 and a beta of 1.32.

PEDEVCO (NYSEAMERICAN:PED) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. PEDEVCO had a return on equity of 3.71% and a net margin of 11.32%. The firm had revenue of $11.81 million for the quarter, compared to analyst estimates of $9.05 million. As a group, analysts forecast that PEDEVCO will post 0.12 earnings per share for the current fiscal year.

About PEDEVCO

PEDEVCO Corp., an oil and gas company, focuses on the acquisition, development, and production of oil and natural gas assets in the United States. It holds interests in the Permian Basin asset covering an area of approximately 22,721 net acres located in New Mexico; and D-J Basin asset covering an area of approximately 19,214 net acres located in Wyoming.