PHX Energy Services (TSE:PHX) Stock Passes Below 200 Day Moving Average – What’s Next?

PHX Energy Services Corp. (TSE:PHX) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-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 changing hands.

Analyst Ratings Changes

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

PHX Energy Services Price Performance

The company has a market cap of C$435.52 million, a price-to-earnings ratio of 5.11 and a beta of 2.32. The company has a 50-day simple moving average of C$9.50 and a 200-day simple moving average of C$9.57. The company has a debt-to-equity ratio of 20.51, a quick ratio of 1.25 and a current ratio of 1.62.

Insider Buying and Selling

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 transaction of C$492,250.00. 11.86% of the stock is currently owned by corporate insiders.

PHX Energy Services Company Profile

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.