Prio (OTCMKTS:PTRRY) Shares Gap Down – Time to Sell?

Prio S.A. (OTCMKTS:PTRRY)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at C$13.15, but opened at C$12.35. Prio shares last traded at C$12.39, with a volume of 3,078 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded shares of Prio from a “strong sell” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

Prio Price Performance

The company has a 50 day simple moving average of C$12.61 and a 200-day simple moving average of C$11.87.

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.