Key Energy Services, Inc. (KEGXQ) Shares Active after Upgrade at Zacks Investment Research

Key Energy Services, Inc. (NASDAQ: KEGXQ) shares traded mostly even in value Thursday Dec 15 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.

Analysts at Zacks Investment Research upgraded shares of Key Energy Services, Inc. (NASDAQ: KEGXQ) from Sell to Hold today. With a rating of Hold on the shares, Key Energy Services, Inc. has a 52-week high of $0.63. As a means of comparison, a number of other analysts have issued reports on the stock in recent days, and Key Energy Services, Inc. has secured a consensus one-year price target of $0.30, above the opening price of $0.12, a difference of 25.00 percent. Share prices sometimes get a jump to the upside when analysts upgrade a stock.

Shares of Key Energy Services, Inc. (NASDAQ: KEGXQ) opened at $0.12 on Tuesday trading between $0.11 and $0.12, and last traded at $0.12.

Key Energy Services, Inc. (NASDAQ: KEGXQ) now has a market cap of 18.46M.

Key Energy Services, Inc. (NASDAQ: KEGXQ) Average Daily Trading Volume

490,850 shares traded hands yesterday, below normal, out of a total float 151,774,000. Trading volume is likely to increase in the next few days as momentum traders often use upticks in trading volume to pinpoint heavy volume growth or distribution by institutional investors.

While an increase in trading for short periods will not mean much, conversely, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive cue to market traders that institutions may be moving in, so institutional sponsorship is critical.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

Key Energy Services, Inc. (NASDAQ: KEGXQ) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By tracking the activity of these professional investors—and the moving averages they affect— traders are able to make make the best trades.

Trades for Key Energy Services, Inc. (NASDAQ: KEGXQ) have ranged from $0.04 – 0.629, and the stock now has a 50-day MA of $0.07 and 200-day MA of $0.12. Today’s last price is 81.71%% below the 52 week high of $0.63.

Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors look for companies that have increased their earnings at least 25% or more for the past 3 years.

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