ACT Energy Technologies (TSE:ACX) Hits New 1-Year High - Here's Why

Key Points

• ACX hit a new 52-week high, trading as high as C$6.75 and last at C$6.69 on volume of 175,853 shares, after closing previously at C$6.56.
• Analysts have raised targets and ratings recently—Raymond James lifted its target to C$10 and ATB Cormark to C$7.25—and the consensus is a Buy with an average target of C$8.63.
• The stock shows momentum with 50- and 200-day moving averages of C$5.76 and C$5.30 respectively, and trades at a P/E of 9.11 with a market cap of about C$219.5 million.

ACT Energy Technologies Ltd. (TSE:ACX - Get Free Report) hit a new 52-week high on Monday . The company traded as high as C$6.75 and last traded at C$6.69, with a volume of 175853 shares traded. The stock had previously closed at C$6.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ACX shares. Raymond James Financial raised their price target on ACT Energy Technologies from C$8.75 to C$10.00 and gave the company an "outperform" rating in a report on Wednesday, January 7th. ATB Cormark Capital Markets lifted their target price on shares of ACT Energy Technologies from C$6.50 to C$7.25 and gave the stock an "outperform" rating in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ACT Energy Technologies currently has an average rating of "Buy" and an average target price of C$8.63.

ACT Energy Technologies Price Performance

The stock's 50-day moving average price is C$5.76 and its 200-day moving average price is C$5.30. The company has a market cap of C$219.50 million, a P/E ratio of 9.11 and a beta of 0.89.

About ACT Energy Technologies

ACT Energy Technologies Ltd. is based in Calgary, Alberta, Canada. We operate in Canada and in the United States as Altitude Energy Partners, and in the U.S. under Discovery Downhole Services and Rime Downhole Technologies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.