STEP Energy Services (TSE:STEP) Hits New 12-Month Low – Here’s What Happened

STEP Energy Services Ltd. (TSE:STEP)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$3.35 and last traded at C$3.48, with a volume of 19920 shares changing hands. The stock had previously closed at C$3.51.

Analyst Ratings Changes

STEP has been the subject of a number of research reports. ATB Capital reduced their price target on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Raymond James downgraded STEP Energy Services from an “outperform” rating to a “market perform” rating and reduced their target price for the company from C$5.50 to C$5.00 in a report on Wednesday. Finally, Cormark raised STEP Energy Services from a “tender” rating to a “buy” rating and upped their target price for the company from C$5.00 to C$5.50 in a research report on Monday, January 6th.

STEP Energy Services Price Performance

The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39. The company has a market capitalization of C$276.20 million, a PE ratio of 6.68 and a beta of 2.07. The company’s 50-day simple moving average is C$4.31 and its 200-day simple moving average is C$4.36.

About STEP Energy Services

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.