STEP Energy Services (TSE:STEP) Shares Up 27% - Here's Why

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price shot up 27% on Friday . The stock traded as high as C$5.48 and last traded at C$5.41. 430,190 shares traded hands during mid-day trading, an increase of 982% from the average session volume of 39,744 shares. The stock had previously closed at C$4.26.

Analyst Ratings Changes

Separately, Royal Bank Of Canada upped their price target on STEP Energy Services from C$4.25 to C$4.50 and gave the stock a "sector perform" rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, STEP Energy Services presently has a consensus rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Stock Up 27.0%

The company has a debt-to-equity ratio of 22.04, a current ratio of 1.39 and a quick ratio of 1.11. The business has a 50 day simple moving average of C$4.35 and a 200 day simple moving average of C$4.16. The company has a market capitalization of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93.

STEP Energy Services Company Profile

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.

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