The short interest in Basic Energy Services (NYSE:BAS) has increased from 15,299,188 on May 31,2016 to 15,335,880 on June 15,2016. The change was measured at 36,692 shares or 0.2%. The leftover shorts were 40.5% of the floated shares. The days to cover are 11, given the average daily volume of 1,432,446 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Basic Energy Services (NYSE:BAS): The stock opened at $1.70 on Friday but the bulls could not build on the opening and the stock topped out at $1.73 for the day. The stock traded down to $1.60 during the day, due to lack of any buying support eventually closed down at $1.63 with a loss of -6.86% for the day. The stock had closed at $1.75 on the previous day. The total traded volume was 5,973,671 shares.
The company shares have dropped -79.02% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $7.90 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $2.08 and the 200 Day Moving Average price is recorded at $2.35.
Basic Energy Services (NYSE:BAS) has tumbled 15.54% during the past week and has dropped 18.5% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 14.14%. Basic Energy Services (NYSE:BAS) has underperformed the index by 16.03% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Basic Energy Services, Inc. provides a range of well site services in the United States to oil and natural gas drilling and producing companies, including completion and remedial services, fluid services, well servicing and contract drilling. The Companys operations are managed regionally and are concentrated in major United States onshore oil and natural gas producing regions located in Texas, New Mexico, Oklahoma, Arkansas, Kansas, Louisiana, Wyoming, North Dakota, Colorado, Utah, Montana, West Virginia, California, Ohio and Pennsylvania. Its operations are focused on liquids-rich basins, as well as natural gas-focused shale plays characterized by prolific reserves. It has a presence in the Permian Basin and the Bakken, Eagle Ford, Haynesville and Marcellus shales. It provides its services to around 2,000 oil and gas companies. Its operating segments are Completion and Remedial Services, Fluid Services, Well Servicing and Contract Drilling.