Key Energy Services (NYSE:KEG) has witnessed a drop of 2.9% or 625,195 shares in its short figure. The short interest diminution took it from 21,694,853 on May 31,2016 to 21,069,658 on June 15,2016. In terms of floated shares, the short interest was calculated to be 14%. The days to cover are 5 given that the daily volume averaged 4,050,274 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Key Energy Services (NYSE:KEG): The stock opened at $0.23 on Friday but the bulls could not build on the opening and the stock topped out at $0.26 for the day. The stock traded down to $0.23 during the day, due to lack of any buying support eventually closed down at $0.23 with a loss of -14.81% for the day. The stock had closed at $0.27 on the previous day. The total traded volume was 18,868,981 shares.
The company shares have dropped -87.77% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $1.95 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $0.32 and the 200 Day Moving Average price is recorded at $0.36.
Key Energy Services (NYSE:KEG) has tumbled 7.89% during the past week and has dropped 24.59% 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 6.36%. Key Energy Services (NYSE:KEG) has underperformed the index by 22.31% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Key Energy Services, Inc. is an onshore, rig-based well servicing contractor. The Company operates in five segments: U.S. Rig Services, which include the completion of newly drilled wells, workover and recompletion of existing oil and natural gas wells, well maintenance, and abandonment of wells; Fluid Management Services, which provides transportation and well-site storage services for various fluids utilized in connection with drilling and maintenance activities; Coiled Tubing Services, which involves the use of a continuous metal pipe spooled onto a reel; Fishing and Rental Services, which offers a line of services and rental equipment designed for use in onshore and offshore drilling and workover services, and International, which includes operations in Mexico, Colombia, Ecuador, the Middle East and Russia. The Companys customers include oil companies, foreign national oil companies and independent oil and natural gas production companies.