Petro Matad (LON:MATD) Shares Cross Above 200-Day Moving Average – Time to Sell?

Petro Matad Limited (LON:MATD) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1.62 ($0.02) and traded as high as GBX 1.95 ($0.03). Petro Matad shares last traded at GBX 1.92 ($0.03), with a volume of 1,339,575 shares changing hands.

Wall Street Analyst Weigh In

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

Petro Matad Stock Up 1.2%

The company has a 50-day moving average price of GBX 1.74 and a two-hundred day moving average price of GBX 1.62. The stock has a market capitalization of £35.69 million, a P/E ratio of -4.07 and a beta of 2.24.

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.