Natural Gas Services Group (NYSE:NGS) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Natural Gas Services Group, Inc. (NYSE:NGS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $22.06 and traded as high as $27.67. Natural Gas Services Group shares last traded at $27.19, with a volume of 40,266 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Natural Gas Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, November 20th.

Natural Gas Services Group Stock Up 2.9 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.76 and a quick ratio of 1.16. The stock has a market capitalization of $339.60 million, a price-to-earnings ratio of 21.24 and a beta of 1.14. The firm’s fifty day moving average is $25.82 and its 200-day moving average is $22.06.

Insider Activity

In other Natural Gas Services Group news, Director Stephen Charles Taylor sold 3,096 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.50, for a total transaction of $75,852.00. Following the completion of the sale, the director now owns 545,291 shares in the company, valued at $13,359,629.50. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 40,892 shares of company stock worth $1,076,633. 7.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC lifted its holdings in Natural Gas Services Group by 129.1% in the third quarter. MetLife Investment Management LLC now owns 6,325 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 3,564 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Natural Gas Services Group by 54.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,647 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 3,056 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Natural Gas Services Group during the 2nd quarter valued at approximately $208,000. Rhumbline Advisers grew its stake in Natural Gas Services Group by 2,513.0% during the 2nd quarter. Rhumbline Advisers now owns 12,072 shares of the oil and gas company’s stock worth $243,000 after buying an additional 11,610 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Natural Gas Services Group in the third quarter worth $261,000. 65.62% of the stock is owned by institutional investors and hedge funds.

About Natural Gas Services Group

Natural Gas Services Group, Inc provides natural gas compression equipment and services to the energy industry in the United States. It engineers and fabricates, operates, rents, and maintains natural gas compressors for oil and natural gas production and plant facilities. It also designs, fabricates, and assembles compressor units for rental or sale; and designs, manufactures, and sells a line of reciprocating natural gas compressor frames, cylinders, and parts.