Petro Matad (LON:MATD) Stock Price Up 10% – What’s Next?

Petro Matad Limited (LON:MATD)’s share price was up 10% on Wednesday . The stock traded as high as GBX 1.65 ($0.02) and last traded at GBX 1.65 ($0.02). Approximately 6,129,614 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 5,620,544 shares. The stock had previously closed at GBX 1.50 ($0.02).

Wall Street Analysts Forecast Growth

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

Petro Matad Trading Up 10.0 %

The stock has a market cap of £30.64 million, a price-to-earnings ratio of -3.49 and a beta of 2.24. The company has a 50 day simple moving average of GBX 1.59 and a 200-day simple moving average of GBX 1.73.

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.