Petro Matad (LON:MATD) Shares Pass Below 200-Day Moving Average of $3.62

Petro Matad Limited (LON:MATD)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 3.62 ($0.05) and traded as low as GBX 3.40 ($0.04). Petro Matad shares last traded at GBX 3.45 ($0.04), with a volume of 5,918,204 shares.

Analysts Set New Price Targets

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Petro Matad in a research report on Monday, March 4th.

Petro Matad Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.91 and a current ratio of 28.92. The company has a market cap of £38.30 million, a PE ratio of -15.50 and a beta of 2.01. The company’s 50-day simple moving average is GBX 3.55 and its 200 day simple moving average is GBX 3.62.

Petro Matad Company Profile

Petro Matad Limited, together with its subsidiaries, explores for, develops, and produces 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 218 square kilometers in Mongolia.