PHX Energy Services (TSE:PHX) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

PHX Energy Services Corp. (TSE:PHX) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$9.57 and traded as low as C$9.20. PHX Energy Services shares last traded at C$9.36, with a volume of 78,563 shares.

Wall Street Analysts Forecast Growth

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

PHX Energy Services Stock Up 0.2 %

The firm’s fifty day simple moving average is C$9.50 and its 200-day simple moving average is C$9.57. The company has a market cap of C$435.52 million, a PE ratio of 5.11 and a beta of 2.32. The company has a quick ratio of 1.25, a current ratio of 1.62 and a debt-to-equity ratio of 20.51.

Insider Activity at PHX Energy Services

In related news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$9.85, for a total value of C$492,250.00. 11.86% of the stock is owned by corporate insiders.

About PHX Energy Services

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.