ACT Energy Technologies (TSE:ACX) Hits New 52-Week High – Should You Buy?

ACT Energy Technologies Ltd. (TSE:ACX)’s stock price reached a new 52-week high on Wednesday. The stock traded as high as C$9.33 and last traded at C$9.26, with a volume of 168,420 shares. The stock had previously closed at C$9.12.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets increased their price objective on ACT Energy Technologies from C$9.25 to C$9.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$9.67.

ACT Energy Technologies Stock Up 1.5%

The firm has a market cap of C$357.76 million, a price-to-earnings ratio of 13.23 and a beta of 0.19. The stock has a 50 day moving average of C$7.81 and a 200 day moving average of C$6.73.

ACT Energy Technologies (TSE:ACX) last announced its quarterly earnings data on Friday, August 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. The firm had revenue of C$178.47 million for the quarter.

ACT Energy Technologies Company Profile

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.