PEDEVCO Corp. (PED) was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $1.68 to $1.94 in the past one-month time frame.
This oil and gas equipment and services stock witnessed two downward revisions in the past 30 days. The Zacks Consensus Estimate also moved down over the same time frame, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
PEDEVCO Corp. carries a Zacks Rank #4 (Sell), while its Earnings ESP is 0.00%.
However, some better-ranked stocks in the same sector include Cameron International Corporation (CAM), PowerSecure International, Inc. (POWR) and Weatherford International plc (WFT). All these stocks sport a Zacks Rank #1 (Strong Buy).
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