STEP Energy Services (TSE:STEP) Trading Up 27% – Here’s Why

STEP Energy Services Ltd. (TSE:STEP) shares rose 27% on Friday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares were traded during mid-day trading, an increase of 982% from the average daily volume of 39,744 shares. The stock had previously closed at C$4.26.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lifted their price objective on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the company a “sector perform” rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$5.04.

STEP Energy Services Stock Up 27.0%

The firm has a market cap of C$394.25 million, a PE ratio of -20.04 and a beta of 1.93. The business’s 50 day moving average price is C$4.35 and its 200 day moving average price is C$4.16. The company has a debt-to-equity ratio of 22.04, a current ratio of 1.39 and a quick ratio of 1.11.

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.