Is Buying Basic Energy Services Inc (NYSE:BAS), Having Higher Short Interest a Winning Strategy?

May 17, 2018 - By Jason Grubb

The stock of Basic Energy Services Inc (NYSE:BAS) registered an increase of 22.33% in short interest. BAS’s total short interest was 1.64M shares in May as published by FINRA. Its up 22.33% from 1.34M shares, reported previously. With 379,500 shares average volume, it will take short sellers 4 days to cover their BAS’s short positions. The short interest to Basic Energy Services Inc’s float is 10.1%.

The stock increased 7.00% or $1.05 during the last trading session, reaching $16.05. About 275,109 shares traded. Basic Energy Services, Inc. (NYSE:BAS) has declined 53.60% since May 17, 2017 and is downtrending. It has underperformed by 65.15% the S&P500.

Basic Energy Services, Inc. provides well site services to oil and natural gas drilling and producing companies in the United States. The company has market cap of $424.08 million. The Company’s Completion and Remedial Services segment offers pumping services, such as cementing, acidizing, fracturing, nitrogen, and pressure testing; rental and fishing tools; coiled tubing; snubbing services; thru-tubing; cased-hole wireline services; and underbalanced drilling in low pressure and fluid sensitive reservoirs. It currently has negative earnings. This segment operates 281 pumping units; and 47 air compressor packages.

Basic Energy Services, Inc. (NYSE:BAS) Ratings Coverage

Among 4 analysts covering Basic Energy Servs (NYSE:BAS), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Basic Energy Servs had 6 analyst reports since December 20, 2017 according to SRatingsIntel. Piper Jaffray upgraded the shares of BAS in report on Monday, May 7 to “Buy” rating. On Monday, May 7 the stock rating was upgraded by PiperJaffray to “Overweight”. Seaport Global maintained Basic Energy Services, Inc. (NYSE:BAS) on Wednesday, January 17 with “Buy” rating. The rating was maintained by Piper Jaffray with “Hold” on Sunday, April 1. The stock of Basic Energy Services, Inc. (NYSE:BAS) earned “Buy” rating by Seaport Global on Wednesday, December 20.

Another recent and important Basic Energy Services, Inc. (NYSE:BAS) news was published by Seekingalpha.com which published an article titled: “Basic Energy Services’ (BAS) CEO Roe Patterson on Q1 2018 Results – Earnings Call Transcript” on May 06, 2018.

Basic Energy Services, Inc. (NYSE:BAS) Ratings Chart

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