Source Energy Services (TSE:SHLE) Stock Price Down 1.8% on Insider Selling

Key Points

• Source Energy Services stock decreased by 1.8% to C$13.80 after insider selling by Catherine Victoria Reynolds, who sold 2,000 shares at an average price of C$14.25.
• The company experienced a significant drop in trading volume, with only 17,264 shares traded compared to its average of 34,832 shares.
• Source Energy Services has a high debt-to-equity ratio of 126.37 and a market capitalization of C$183.25 million, indicating potential financial risk.

Source Energy Services Ltd. (TSE:SHLE - Get Free Report) fell 1.8% on Tuesday following insider selling activity. The company traded as low as C$13.70 and last traded at C$13.80. 17,264 shares were traded during trading, a decline of 50% from the average session volume of 34,832 shares. The stock had previously closed at C$14.05.

Specifically, insider Catherine Victoria Reynolds sold 2,000 shares of Source Energy Services stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of C$14.25, for a total transaction of C$28,500.00. Following the transaction, the insider directly owned 32,783 shares of the company's stock, valued at C$467,157.75. This trade represents a 5.75% decrease in their ownership of the stock.

Source Energy Services Stock Performance

The business has a 50-day moving average of C$13.80 and a two-hundred day moving average of C$11.71. The company has a debt-to-equity ratio of 126.37, a current ratio of 0.61 and a quick ratio of 0.22. The company has a market cap of C$183.25 million, a P/E ratio of 4.66 and a beta of 2.56.

About Source Energy Services

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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