Petro Matad (LON:MATD) Trading Down 8.5% – Time to Sell?

Petro Matad Limited (LON:MATD)’s share price fell 8.5% during mid-day trading on Tuesday . The stock traded as low as GBX 2.40 ($0.03) and last traded at GBX 2.40 ($0.03). 10,037,498 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 12,171,491 shares. The stock had previously closed at GBX 2.63 ($0.03).

Analyst Upgrades and Downgrades

Separately, Shore Capital reissued a “house stock” rating on shares of Petro Matad in a report on Thursday, August 22nd.

Petro Matad Price Performance

The company’s 50 day simple moving average is GBX 2.59 and its 200 day simple moving average is GBX 3.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.02 and a quick ratio of 16.91. The stock has a market cap of £34.32 million, a P/E ratio of -15.50 and a beta of 2.24.

About Petro Matad

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.