Petro Matad (LON:MATD) Shares Up 13.3% – Should You Buy?

Petro Matad Limited (LON:MATD) shares traded up 13.3% during trading on Friday . The company traded as high as GBX 1.70 ($0.02) and last traded at GBX 1.70 ($0.02). 18,053,824 shares traded hands during trading, an increase of 53% from the average session volume of 11,833,829 shares. The stock had previously closed at GBX 1.50 ($0.02).

Wall Street Analyst Weigh In

Separately, Shore Capital reiterated a “house stock” rating on shares of Petro Matad in a report on Thursday, August 22nd.

Petro Matad Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 10.02 and a quick ratio of 16.91. The stock has a fifty day simple moving average of GBX 2.11 and a two-hundred day simple moving average of GBX 2.67. The firm has a market capitalization of £25.16 million, a P/E ratio of -15.50 and a beta of 2.24.

Petro Matad Company Profile

Petro Matad Limited, together with its subsidiaries, engages in the exploration, development, and production of oil in Mongolia. It holds 100% interests in production sharing contract blocks, including Ongi Block V that covers an area of approximately 7,937 square kilometers; and Matad Block XX that consists of an area of approximately 214 square kilometers in Mongolia.