Gran Tierra Energy (TSE:GTE) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$6.54 and traded as high as C$7.72. Gran Tierra Energy shares last traded at C$7.54, with a volume of 69,252 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GTE shares. Royal Bank Of Canada lowered their price objective on Gran Tierra Energy from C$8.00 to C$6.50 and set a “sector perform” rating for the company in a research report on Friday, December 12th. Canaccord Genuity Group lowered Gran Tierra Energy from a “buy” rating to a “hold” rating and set a C$8.00 price target on the stock. in a research note on Tuesday, January 27th. Finally, Roth Mkm downgraded shares of Gran Tierra Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 29th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$8.17.

Gran Tierra Energy Trading Up 2.4%

The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 176.57. The stock has a 50-day simple moving average of C$6.54 and a 200 day simple moving average of C$6.04. The company has a market cap of C$266.13 million, a price-to-earnings ratio of -2.93, a PEG ratio of 0.23 and a beta of 1.22.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas. Gran Tierra holds interests in producing and prospective properties in Colombia and prospective properties in Ecuador. The company has a strategy that focuses on establishing a portfolio of producing properties, plus production enhancement and exploration opportunities to provide a base for future growth.