CES Energy Solutions (TSE:CEU) Share Price Crosses Below 200-Day Moving Average Following Insider Selling

Shares of CES Energy Solutions Corp. (TSE:CEU - Get Free Report) passed below its two hundred day moving average during trading on Thursday after an insider sold shares in the company. The stock has a two hundred day moving average of C$7.54 and traded as low as C$6.97. CES Energy Solutions shares last traded at C$7.05, with a volume of 878,680 shares.

Specifically, Senior Officer Kenneth Earl Zinger sold 31,222 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of C$6.78, for a total transaction of C$211,685.16. Also, Senior Officer Vernon James Disney sold 23,416 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of C$6.78, for a total transaction of C$158,760.48. In other CES Energy Solutions news, Senior Officer Anthony Michael Aulicino sold 11,119 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of C$6.78, for a total transaction of C$75,386.82.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CEU shares. ATB Capital dropped their target price on shares of CES Energy Solutions from C$11.00 to C$10.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. BMO Capital Markets lowered their price objective on CES Energy Solutions from C$10.00 to C$9.00 in a report on Thursday, April 17th. TD Securities cut their price objective on CES Energy Solutions from C$11.00 to C$9.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. National Bankshares raised CES Energy Solutions from a "sector perform" rating to an "outperform" rating and set a C$14.50 target price on the stock in a report on Thursday. Finally, Atb Cap Markets upgraded CES Energy Solutions from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$10.54.

CES Energy Solutions Price Performance

The firm has a market capitalization of C$1.58 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.61 and a beta of 2.31. The company has a current ratio of 2.82, a quick ratio of 1.78 and a debt-to-equity ratio of 57.26. The business has a 50-day moving average price of C$6.43 and a two-hundred day moving average price of C$7.54.

CES Energy Solutions Company Profile

CES Energy Solutions Corp provides consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at drill-bit, at point of completion and stimulation, at wellhead and pump-jack, and to the pipeline and midstream market. Its geographical segments are the United States and Canada, of which the majority of its revenue comes from the United States.

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