Source Energy Services (TSE:SHLE) Shares Down 2.2% - Here's Why

Key Points

• Source Energy Services Ltd. (TSE:SHLE) saw its shares decrease by 2.2%, closing at C$12.47 after trading as low as C$12.38.
• The company experienced a significant drop in trading volume, with only 18,778 shares traded, representing a 47% decline from its average daily volume.
• Source Energy Services specializes in the production and distribution of Northern White frac sand and has a market cap of C$168.66 million with a high debt-to-equity ratio of 126.37.

Shares of Source Energy Services Ltd. (TSE:SHLE - ) dropped 2.2% on Tuesday . The company traded as low as C$12.38 and last traded at C$12.47. Approximately 18,778 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 35,312 shares. The stock had previously closed at C$12.75.

Source Energy Services Stock Performance

The company has a quick ratio of 0.22, a current ratio of 0.61 and a debt-to-equity ratio of 126.37. The business has a 50 day simple moving average of C$13.43 and a two-hundred day simple moving average of C$11.62. The firm has a market cap of C$168.66 million, a PE ratio of 0.99 and a beta of 2.82.

Source Energy Services Company Profile

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.

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