Petro Matad (LON:MATD) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Petro Matad Limited (LON:MATD)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 1.03 and traded as low as GBX 1. Petro Matad shares last traded at GBX 1, with a volume of 2,155,845 shares changing hands.

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “house stock” rating on shares of Petro Matad in a research report on Wednesday, November 5th.

Petro Matad Stock Down 0.6%

The company has a market capitalization of £19.20 million, a PE ratio of -1.54 and a beta of 2.24. The company has a 50-day moving average price of GBX 1.17 and a two-hundred day moving average price of GBX 1.03.

About Petro Matad

Petro Matad is a company focused on delivery of energy in Mongolia from both the hydrocarbon and renewables sectors.