Petro Matad (LON:MATD) Shares Pass Below 200 Day Moving Average – Time to Sell?

Petro Matad Limited (LON:MATDGet Free Report) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 1.87 ($0.02) and traded as low as GBX 1.42 ($0.02). Petro Matad shares last traded at GBX 1.47 ($0.02), with a volume of 7,980,629 shares trading hands.

Analysts Set New Price Targets

Separately, Shore Capital reissued a “house stock” rating on shares of Petro Matad in a research report on Thursday.

View Our Latest Research Report on Petro Matad

Petro Matad Price Performance

The stock’s 50-day moving average is GBX 1.46 and its 200 day moving average is GBX 1.86. The company has a market cap of £27.59 million, a PE ratio of -3.14 and a beta of 2.24.

About Petro Matad

(Get Free Report)

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.

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