Gran Tierra Energy (TSE:GTE) Share Price Passes Below 200-Day Moving Average – Here’s Why

Gran Tierra Energy Inc. (TSE:GTE) (NYSEMKT:GTE) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$10.62 and traded as low as C$9.25. Gran Tierra Energy shares last traded at C$9.64, with a volume of 17,243 shares changing hands.

Analysts Set New Price Targets

GTE has been the topic of several recent research reports. Canaccord Genuity Group set a C$12.00 price objective on shares of Gran Tierra Energy and gave the company a “buy” rating in a research note on Wednesday, November 27th. Royal Bank of Canada dropped their price objective on shares of Gran Tierra Energy from C$10.00 to C$9.50 in a research note on Monday, October 7th.

Gran Tierra Energy Stock Performance

The stock’s 50-day moving average price is C$8.97 and its 200-day moving average price is C$10.62. The company has a debt-to-equity ratio of 147.61, a quick ratio of 0.58 and a current ratio of 0.75. The company has a market capitalization of C$295.47 million, a price-to-earnings ratio of 4.48, a P/E/G ratio of 0.23 and a beta of 1.57.

Insider Activity

In other news, Director Ronald William Royal sold 19,967 shares of Gran Tierra Energy stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of C$9.67, for a total transaction of C$193,080.89. Insiders own 3.32% of the company’s stock.

About Gran Tierra Energy

Gran Tierra Energy Inc is an independent energy company. It is engaged in the acquisition, exploration, development, and production of oil and gas properties in proven, under-explored hydrocarbon basins that have access to established infrastructure. The firm produces primarily light crude oil, supplemented with medium crude and natural gas.