Natural Gas Services Group (NYSE:NGS) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Natural Gas Services Group, Inc. (NYSE:NGS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.42 and traded as high as $25.97. Natural Gas Services Group shares last traded at $25.86, with a volume of 27,908 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Natural Gas Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Natural Gas Services Group Stock Down 1.5 %

The firm has a market capitalization of $318.12 million, a price-to-earnings ratio of 19.90 and a beta of 1.14. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $24.39 and its 200 day moving average price is $21.48.

Insider Buying and Selling

In other Natural Gas Services Group news, Director Stephen Charles Taylor sold 10,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $27.15, for a total transaction of $271,500.00. Following the sale, the director now directly owns 457,787 shares of the company’s stock, valued at approximately $12,428,917.05. This trade represents a 2.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 40,892 shares of company stock valued at $1,076,633 over the last quarter. 7.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Natural Gas Services Group

Hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC increased its stake in shares of Natural Gas Services Group by 129.1% during the third quarter. MetLife Investment Management LLC now owns 6,325 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,564 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Natural Gas Services Group by 54.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,647 shares of the oil and gas company’s stock worth $165,000 after buying an additional 3,056 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Natural Gas Services Group during the second quarter valued at approximately $208,000. Rhumbline Advisers lifted its position in shares of Natural Gas Services Group by 2,513.0% in the second quarter. Rhumbline Advisers now owns 12,072 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 11,610 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Natural Gas Services Group in the third quarter worth approximately $261,000. 65.62% of the stock is owned by hedge funds and other institutional investors.

About Natural Gas Services Group

Natural Gas Services Group, Inc provides natural gas compression equipment and services to the energy industry in the United States. It engineers and fabricates, operates, rents, and maintains natural gas compressors for oil and natural gas production and plant facilities. It also designs, fabricates, and assembles compressor units for rental or sale; and designs, manufactures, and sells a line of reciprocating natural gas compressor frames, cylinders, and parts.