STEP Energy Services (TSE:STEP) Shares Down 2.5% – Time to Sell?

Shares of STEP Energy Services Ltd. (TSE:STEP) traded down 2.5% during mid-day trading on Monday . The company traded as low as C$4.30 and last traded at C$4.30. 27,716 shares were traded during mid-day trading, a decline of 39% from the average session volume of 45,714 shares. The stock had previously closed at C$4.41.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STEP. ATB Capital dropped their price target on shares of STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Cormark raised shares of STEP Energy Services from a “tender” rating to a “buy” rating and lifted their price objective for the stock from C$5.00 to C$5.50 in a report on Monday, January 6th. Raymond James dropped their price target on STEP Energy Services from C$6.25 to C$6.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Acumen Capital set a C$5.25 price objective on shares of STEP Energy Services in a research report on Friday, October 11th. Finally, BMO Capital Markets lifted their target price on STEP Energy Services from C$4.50 to C$5.00 in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$5.21.

STEP Energy Services Price Performance

The company has a debt-to-equity ratio of 25.45, a current ratio of 1.47 and a quick ratio of 1.11. The stock has a market capitalization of C$311.81 million, a price-to-earnings ratio of 4.83 and a beta of 2.07. The stock’s 50 day simple moving average is C$4.67 and its 200-day simple moving average is C$4.29.

Insider Buying and Selling

In other news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total transaction of C$75,604.20. Corporate insiders own 0.50% of the company’s stock.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.