PHX Energy Services (TSE:PHX) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX)’s stock 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.

Wall Street Analyst Weigh In

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

PHX Energy Services Stock Performance

The company has a market capitalization of C$450.41 million, a PE ratio of 5.29 and a beta of 2.32. The firm has a 50-day moving average of C$9.50 and a two-hundred day moving average of C$9.59. 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

In other news, Senior Officer Cameron Michael Ritchie sold 50,000 shares of the 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. Insiders own 11.86% of the company’s stock.

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.