Petro Matad (LON:MATD) Stock Price Passes Below 200-Day Moving Average of $6.01
Petro Matad Limited (LON:MATD) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.01 and traded as low as $3.65. Petro Matad shares last traded at $3.65, with a volume of 921,597 shares changing hands.
Separately, Shore Capital reissued a “house stock” rating on shares of Petro Matad in a research note on Thursday, October 3rd.
The firm has a market cap of $24.17 million and a PE ratio of -1.56. The firm’s 50 day moving average is GBX 4.25 and its 200-day moving average is GBX 6.01.
Petro Matad Limited, together with its subsidiaries, explores for, develops, and produces oil in Mongolia. Its properties include production sharing contracts over the Matad Block XX covering an area of 10,340 square kilometers in the far eastern part of Mongolia; and Bogd Block IV and Ongi Block V totaling approximately 50,000 square kilometers located in west central Mongolia.
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