Pedevco Corp (NYSE:PED) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 113,953 shares, an increase of 131.8% from the August 31st total of 49,150 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 48,449 shares, the short-interest ratio is presently 2.4 days.
In related news, CEO Michael L. Peterson sold 168,565 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $0.24, for a total transaction of $40,455.60. Following the transaction, the chief executive officer now owns 1,363,968 shares of the company’s stock, valued at approximately $327,352.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Moore Clark sold 253,950 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $0.15, for a total transaction of $38,092.50. Following the transaction, the executive vice president now directly owns 1,251,749 shares in the company, valued at approximately $187,762.35. The disclosure for this sale can be found here.
Several institutional investors have recently bought and sold shares of PED. Shufro Rose & Co. LLC purchased a new position in Pedevco Corp during the first quarter worth $232,000. Geneva Advisors LLC raised its position in Pedevco Corp by 14.0% in the second quarter. Geneva Advisors LLC now owns 1,479,865 shares of the company’s stock worth $412,000 after buying an additional 181,890 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Pedevco Corp by 2.9% in the second quarter. Royal Bank of Canada now owns 2,617,400 shares of the company’s stock worth $729,000 after buying an additional 75,000 shares during the last quarter.
Shares of Pedevco Corp (NYSE:PED) opened at 0.1801 on Friday. The firm has a 50-day moving average of $0.21 and a 200-day moving average of $0.23. The company’s market cap is $8.98 million. Pedevco Corp has a one year low of $0.10 and a one year high of $0.41.
About Pedevco Corp
PEDEVCO Corp. is an energy company, which is engaged in the acquisition, exploration, development and production of oil and natural gas shale plays in the Denver-Julesberg Basin (D-J Basin) in Colorado. The D-J Basin contains hydrocarbon bearing deposits in several formations, including the Niobrara, Codell, Greenhorn, Shannon, J-Sand and D-Sand.
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