PHX Energy Services (TSE:PHX) Stock Passes Below 200-Day Moving Average – Should You Sell?

by · The Markets Daily

PHX Energy Services Corp. (TSE:PHX – Get Free Report)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.59 and traded as low as C$9.56. PHX Energy Services shares last traded at C$9.68, with a volume of 33,664 shares.

Analysts Set New Price Targets

Separately, ATB Capital lowered their target price on PHX Energy Services from C$11.75 to C$11.50 in a research report on Thursday, November 7th.

View Our Latest Report on PHX Energy Services

PHX Energy Services Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.25 and a debt-to-equity ratio of 20.51. The company has a market cap of C$441.10 million, a P/E ratio of 5.18 and a beta of 2.32. The business’s 50 day simple moving average is C$9.51 and its 200 day simple moving average is C$9.59.

Insider Activity

In related news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total transaction of C$492,250.00. Company insiders own 11.86% of the company’s stock.

About PHX Energy Services

(Get Free Report)

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, Albania, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations.

Featured Articles