Petro Matad (LON:MATD) Shares Pass Below 200-Day Moving Average – Should You Sell?

Petro Matad Limited (LON:MATD) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 2.30 ($0.03) and traded as low as GBX 1.55 ($0.02). Petro Matad shares last traded at GBX 1.60 ($0.02), with a volume of 478,911 shares.

Petro Matad Stock Performance

The firm’s 50 day simple moving average is GBX 1.71 and its 200-day simple moving average is GBX 2.30. The company has a market capitalization of £23.68 million, a price-to-earnings ratio of -15.50 and a beta of 2.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.91 and a current ratio of 10.02.

Petro Matad Company Profile

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.