Ensign Energy Services (TSE:ESI) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• Ensign Energy Services' shares recently crossed above their 200-day moving average, with a current trading price of C$2.46 and a high of C$2.51.
• Royal Bank of Canada downgraded the stock from a "moderate buy" to a "hold" rating while adjusting its price target from C$2.50 to C$3.00, reflecting mixed analyst sentiment.
• The stock has a market capitalization of C$451.96 million and a high debt-to-equity ratio of 84.02, indicating potential financial risks for investors.

Shares of Ensign Energy Services Inc. (TSE:ESI - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$2.18 and traded as high as C$2.51. Ensign Energy Services shares last traded at C$2.46, with a volume of 171,251 shares trading hands.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded shares of Ensign Energy Services from a "moderate buy" rating to a "hold" rating and lifted their price objective for the stock from C$2.50 to C$3.00 in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Ensign Energy Services currently has a consensus rating of "Hold" and a consensus target price of C$3.40.

Ensign Energy Services Stock Up 2.5%

The company has a current ratio of 0.98, a quick ratio of 1.30 and a debt-to-equity ratio of 84.02. The stock has a market capitalization of C$451.96 million, a PE ratio of -12.30, a P/E/G ratio of 202.94 and a beta of 2.07. The stock's fifty day simple moving average is C$2.29 and its 200-day simple moving average is C$2.18.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs.

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