Shares of Prio S.A. (OTCMKTS:PTRRY – Get Free Report) dropped 14.7% during trading on Monday. The stock traded as low as C$12.60 and last traded at C$12.76. Approximately 22,440 shares changed hands during trading, a decline of 52% from the average session volume of 46,915 shares. The stock had previously closed at C$14.96.
Wall Street Analysts Forecast Growth
Separately, Zacks Research cut shares of Prio from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on Prio
Prio Price Performance
The stock has a 50-day simple moving average of C$12.46 and a 200 day simple moving average of C$12.20.
About Prio
Prio SA, formerly known as PetroRio, is an independent Brazilian oil and gas company focused on the exploration, production and development of offshore hydrocarbon assets. The company’s strategy centers on acquiring and redeveloping producing or mature fields, applying operational improvements and enhanced-recovery techniques to extend their productive lives.
Prio’s activities are concentrated in Brazil, particularly in the country’s offshore basins. Its portfolio has included producing fields and related infrastructure in the Campos Basin, such as the Frade, Polvo and Tubarão Martelo fields, as well as development projects including Wahoo.
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