November 9, 2016 - 2:26 PM EST
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Midday Update: Forbes Energy Services Ltd (FES) Charges Ahead 5.85% on November 9

Forbes Energy Services Ltd (FES) has been one of the best performers amongst all NYSE and NASDAQ listed stocks in the basic materials sector during morning trading on November 9. At the lunch break, shares of FES have gained 5.85% to $0.1 after closing the day prior at $0.09. In the first two and a half hours of trading, the stock has gone as high as $0.1 and as low as $0.09. Today's rise has come with about 64,720 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. 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. In the past 52 weeks, shares of 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 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 in Alice, TX. 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 FinancialPress.com today. All data provided by QuoteMedia, with stock data accurate as of 12:00 PM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information. About FinancialPress.com FinancialPress.com 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 FinancialPress.com


Source: Financial Press News (November 9, 2016 - 2:26 PM EST)

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