Petro Matad (LON:MATD) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Petro Matad Limited (LON:MATD)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1.78 ($0.02) and traded as high as GBX 1.82 ($0.02). Petro Matad shares last traded at GBX 1.79 ($0.02), with a volume of 1,374,904 shares.

Analyst Upgrades and Downgrades

Separately, Shore Capital reaffirmed a “house stock” rating on shares of Petro Matad in a research report on Thursday, March 13th.

Petro Matad Price Performance

The stock’s fifty day simple moving average is GBX 1.53 and its two-hundred day simple moving average is GBX 1.78. The company has a market capitalization of £33.20 million, a price-to-earnings ratio of -3.78 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.