Petro Matad (LON:MATD) Trading 18% Higher – Time to Buy?

Petro Matad Limited (LON:MATD)’s stock price traded up 18% during trading on Tuesday . The stock traded as high as GBX 1.75 ($0.02) and last traded at GBX 1.74 ($0.02). 5,361,474 shares were traded during mid-day trading, a decline of 5% from the average session volume of 5,651,477 shares. The stock had previously closed at GBX 1.48 ($0.02).

Wall Street Analyst Weigh In

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

Petro Matad Stock Performance

The company’s 50 day simple moving average is GBX 1.46 and its 200 day simple moving average is GBX 1.82. The stock has a market cap of £30.82 million, a PE ratio of -3.51 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.