Abraxas Petroleum Corporation (AXAS) was one of the best performers amongst all companies listed in the basic materials sector on the NYSE and NASDAQ exchanges during trading on April 21, climbing 5.56% to wrap the day at $1.9 after closing the day prior at $1.8. Throughout the trading session, shares of AXAS rose as high as $1.92 and dipped as low as $1.77. Today’s advance came with about 1.34 million shares changing hands, compared to an average 30-day volume of 2.03 million for Abraxas Petroleum Corporation. The price is currently below the 30-day volume weighted average price of $1.86 for AXAS.
The share appreciation today gives the company a market capitalization of $294.92 million based upon 163.84 million shares outstanding. It also means that AXAS has a price-to-book ratio of 16.38:1.
In the past 52 weeks, shares of AXAS have traded as low as $0.9804 and as high as $2.99. Technical traders will take note that at $1.9, shares of AXAS are trading above their 200-day MA at $1.88 and below their 50-day MA at $2.06. 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 AXAS?
Abraxas Petroleum Corp is an independent energy company engaged in the acquisition, exploitation, development and production of oil and gas in the United States. The company’s 109 employees are led by CEO Robert L.G. Watson from the corporate headquarters at 18803 Meisner Drive in San Antonio, TX.
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