Painted Pony Petroleum Limited Downgraded to Hold at GMP SecCould explain part of the pullback today. I think they're becoming even more of a target now...hopefully we see some crazy insider action or a buy-back in the meantime...
Source
GMP Securities cut shares of
Painted Pony Petroleum Limited (TSE:PPY) from a buy rating to a hold rating in a research note issued to investors on Thursday.
A number of other firms have also recently commented on PPY. Analysts at Canaccord Genuity lowered their price target on shares of Painted Pony Petroleum Limited from C$20.00 to C$15.00 in a research note on Friday, January 16th. Analysts at RBC Capital lowered their price target on shares of Painted Pony Petroleum Limited from C$15.00 to C$13.00 in a research note on Wednesday, December 17th. Finally, analysts at Paradigm Capital lowered their price target on shares of Painted Pony Petroleum Limited from C$16.00 to C$15.00 and set a buy rating on the stock in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Painted Pony Petroleum Limited currently has an average rating of Buy and a consensus price target of C$13.18.
Shares of Painted Pony Petroleum Limited (TSE:PPY) traded down 4.92% during mid-day trading on Thursday, hitting $6.76. The stock had a trading volume of 5,101,660 shares. Painted Pony Petroleum Limited has a 1-year low of $6.31 and a 1-year high of $14.75. The stock’s 50-day moving average is $7.32 and its 200-day moving average is $10.26. The company’s market cap is $636.2 million.