Forbes Energy Services Ltd (FES) Shares are Up 12.19%

Forbes Energy Services Ltd (FES) has been under a strong bear grip, hence the stock is down -10.1% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 12.13% in the past 1 week. The stock has risen by 12.19% in the past week indicating that the buyers are active at lower levels, but the stock is down -9.17% in the past 4 weeks.

The stock has recorded a 20-day Moving Average of 3.75% and the 50-Day Moving Average is 8.44%. Forbes Energy Services Ltd (NASDAQ:FES): On Fridays trading session , Opening price of the stock was $0.1921 with an intraday high of $0.193. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $0.1605. However, the stock managed to close at $0.1694, a loss of 7.43% for the day. On the previous day, the stock had closed at $0.183. The total traded volume of the day was 508,015 shares.


The company Insiders own 23.1% of Forbes Energy Services Ltd shares according to the proxy statements. Institutional Investors own 44.85% of Forbes Energy Services Ltd shares. During last six month period, the net percent change held by insiders has seen a change of -10.51%. Also, Equity analysts at the Brokerage firm GMP Securities downgrades its rating on Forbes Energy Services Ltd (NASDAQ:FES). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 11, 2016.

Forbes Energy Services Ltd. (FES Ltd) is an independent oilfield services contractor that provides a range of well site services to oil and natural gas drilling and producing companies to help develop and enhance the production of oil and natural gas. These services include fluid hauling, fluid disposal, well maintenance, completion services, workovers and recompletions, plugging and abandonment, and tubing testing. FES Ltd operates in two segments: well servicing and fluid logistics. Services provided by the well maintenance services include completions of newly drilled oil and natural gas wells, wellbore maintenance, workovers and re-completions, tubing testing, and plugging and abandonment services. Services offered by the fluid logistics segment include fluid hauling, Disposal Services, Equipment Rental and Fluid Sales.

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