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Monday, October 19, 2020

PEDEVCO Corp. (AMEX:PED) Stock is Soaring, Here is Why

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PEDEVCO Corp. (PED) shares are trading at higher $1.80.

To add more color to this target, the company’s high over the last year is $2.50 and the low is $0.67. Over the last 52 weeks, PED is up 12.50% while the S&P 500 is up 18.31%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, PED reported a profit of $4.08 million. PEDEVCO Corp. also saw revenues increase to $0.66 million. In addition, PED has free cash flow of -$12.58 million as of 06-2020. The company’s EBITDA came in at -$1.49 million which compares well with its peers.

PED Return on Equity (ROE) is -12.20%, and its Return on Assets is -11.00%. All told, it is clear that, PED needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. PED has a short ratio of 0.18 and outstanding shares of 72.13M.

Company Outlook

PED has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.41 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.19. PEDEVCO Corp. PED also noted assets of $106.59 million at the end of the last quarter. Investors should also keep an eye on sector updates as PED has historically followed its peers on positive news.

All told, PEDEVCO Corp. PED has strung together solid data and demonstrated underlying fundamentals. At its current valuation, PED represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

PEDEVCO Corp. PED is now commanding a market cap of 144.13M and a float of 8.09M. PED is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of PED stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in PED, either long or short, and we have not been compensated for this article.

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