CES Energy Solutions (TSE:CEU) Shares Cross Above 200 Day Moving Average - Here's What Happened

Key Points

• CES Energy Solutions shares have recently crossed above their 200-day moving average of C$7.05, reaching a high of C$8.32 during trading.
• Analysts' ratings for CES Energy Solutions vary, with ATB Capital reducing their price target to C$10.00, while National Bankshares set a higher target of C$14.50, indicating differing growth expectations.
• Insiders have recently sold a total of 131,220 shares worth approximately $894,345, suggesting potential concerns about future stock performance.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$7.05 and traded as high as C$8.32. CES Energy Solutions shares last traded at C$8.26, with a volume of 436,666 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. ATB Capital lowered their price target on shares of CES Energy Solutions from C$11.00 to C$10.00 and set an "outperform" rating for the company in a report on Monday, May 5th. National Bankshares raised shares of CES Energy Solutions from a "sector perform" rating to an "outperform" rating and set a C$14.50 price target for the company in a report on Thursday, July 3rd. Finally, National Bank Financial raised shares of CES Energy Solutions from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to MarketBeat.com, CES Energy Solutions currently has a consensus rating of "Buy" and a consensus price target of C$10.54.

CES Energy Solutions Trading Up 0.7%

The company has a quick ratio of 1.78, a current ratio of 2.82 and a debt-to-equity ratio of 57.26. The firm has a market cap of C$1.85 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.61 and a beta of 2.31. The company's 50 day simple moving average is C$7.35 and its 200-day simple moving average is C$7.05.

Insider Activity

In other news, Senior Officer Kenneth Earl Zinger sold 31,222 shares of CES Energy Solutions 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 Mihir Patel sold 4,484 shares of CES Energy Solutions stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of C$6.86, for a total transaction of C$30,760.24. In the last ninety days, insiders have sold 131,220 shares of company stock valued at $894,345. Insiders own 3.03% of the company's stock.

About CES Energy Solutions

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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