Petro Matad (LON:MATD) Shares Down 7.8% – Here’s What Happened

Petro Matad Limited (LON:MATD)’s stock price dropped 7.8% during mid-day trading on Wednesday . The stock traded as low as GBX 0.95 and last traded at GBX 0.95. Approximately 3,019,288 shares traded hands during trading, a decline of 51% from the average daily volume of 6,112,354 shares. The stock had previously closed at GBX 1.03.

Analyst Upgrades and Downgrades

Separately, Shore Capital Group restated a “house stock” rating on shares of Petro Matad in a research note on Wednesday, November 5th.

Petro Matad Trading Down 3.3%

The stock has a market capitalization of £18.32 million, a price-to-earnings ratio of -1.46 and a beta of 2.24. The firm has a 50-day moving average of GBX 1.09 and a 200-day moving average of GBX 1.01.

Petro Matad Company Profile

Petro Matad is a company focused on delivery of energy in Mongolia from both the hydrocarbon and renewables sectors.