PHX Energy Services (TSE:PHX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

PHX Energy Services Corp. (TSE:PHX)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.61 and traded as high as C$9.62. PHX Energy Services shares last traded at C$9.56, with a volume of 42,283 shares changing hands.

Analyst Upgrades and Downgrades

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

PHX Energy Services Stock Down 0.2 %

The firm’s 50-day moving average price is C$9.50 and its 200 day moving average price is C$9.61. The firm has a market capitalization of C$444.83 million, a price-to-earnings ratio of 5.22 and a beta of 2.32. The company has a debt-to-equity ratio of 20.51, a current ratio of 1.62 and a quick ratio of 1.25.

Insider Activity

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

About PHX Energy Services

PHX Energy Services Corp is a Canadian service provider company. It is principally engaged in providing horizontal and directional drilling services, as well as web-based remote electronic drilling recorder technology and services, to oil and natural gas exploration and development companies in Canada, United States, Albania, and Russia.