STEP Energy Services (TSE:STEP) Shares Up 27% - Should You Buy?

Key Points

• STEP Energy Services shares surged by 27%, reaching a trading high of C$5.48, with a significant increase in trading volume of 982% compared to average daily levels.
• The common stock has received a Moderate Buy consensus rating, with a price target raised from C$4.25 to C$4.50 by the Royal Bank of Canada.
• With a market cap of C$394.25 million, STEP Energy Services specializes in energy services including coiled tubing and hydraulic fracturing solutions.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) was up 27% during trading on Friday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares changed hands during trading, an increase of 982% from the average daily volume of 39,744 shares. The stock had previously closed at C$4.26.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada boosted their price target on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the stock a "sector perform" rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock 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 fifty day moving average of C$4.35 and a two-hundred day moving average of C$4.16. The company has a market cap of C$394.25 million, a PE ratio of -20.04 and a beta of 1.93. The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39.

About STEP Energy Services

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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