Basic Energy Services Sees Large Growth in Short Interest (BAS)
Basic Energy Services (NYSE:BAS) saw a significant increase in short interest in July. As of July 31st, there was short interest totalling 4,712,087 shares, an increase of 53.9% from the July 15th total of 3,061,881 shares, StockRatingsNetwork.com reports. Approximately 13.2% of the shares of the stock are short sold. Based on an average trading volume of 1,438,680 shares, the short-interest ratio is currently 3.3 days.
In other Basic Energy Services news, CEO Thomas Monroe Patterson sold 3,000 shares of Basic Energy Services stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $75,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
BAS has been the subject of a number of recent research reports. Analysts at Macquarie reiterated a “neutral” rating on shares of Basic Energy Services in a research note on Monday, July 28th. They now have a $24.00 price target on the stock, down previously from $25.00. Separately, analysts at Global Hunter Securities upgraded shares of Basic Energy Services from a “neutral” rating to an “accumulate” rating in a research note on Monday, July 28th. They now have a $30.00 price target on the stock, down previously from $31.00. Finally, analysts at Raymond James upgraded shares of Basic Energy Services from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $32.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Basic Energy Services has a consensus rating of “Hold” and a consensus target price of $28.77.
Basic Energy Services (NYSE:BAS) opened at 24.01 on Tuesday. Basic Energy Services has a 52-week low of $11.06 and a 52-week high of $29.84. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $25.3. The company’s market cap is $983.4 million.
Basic Energy Services (NYSE:BAS) last announced its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.04. Analysts expect that Basic Energy Services will post $0.54 EPS for the current fiscal year.
Basic Energy Services, Inc, provides a range of well site services to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling.
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