November 9, 2016 - 12:44 PM EST
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Forbes Energy Services Ltd (FES) Boosts Basic Materials Sector with Early Advance of 5.85% on November 9

Forbes Energy Services Ltd (FES" target="_new">FES) is one of the best performing stocks in the basic materials sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on November 9. Shares of FES" target="_new">FES have climbed 5.85% about 30 minutes into the session to $0.1 after closing the day prior at $0.09. It’s early, but the stock has traded as high as $0.1 and as low as $0.1 so far. Today's quick advance has come with about 1,203 shares changing hands, compared to an average 30-day volume of 368,125 for Forbes Energy Services Ltd. The price is currently below the 30-day volume weighted average price of $0.1 for FES" target="_new">FES. The share appreciation gives the company a market capitalization of $2.09 million based upon 22.21 million shares outstanding. It also means that FES has a price-to-book ratio of 0.08:1 and a price-to-earnings ratio of :1. In the past 52 weeks, shares of FES" target="_new">FES have traded as low as $0.0898 and as high as $0.7. Technical traders will take note that at $0.1, shares of FES" target="_new">FES are trading below their 200-day MA at $0.25 and below their 50-day MA at $0.13. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish. Who is FES? Forbes Energy Services 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. The company’s 1182 employees are led by CEO John E. Crisp from the corporate headquarters at 3000 South Business. For more information on FES and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit today. All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. is not responsible for inaccuracies in third-party supplied information. About is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at

Source: Financial Press News (November 9, 2016 - 12:44 PM EST)

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