STEP Energy Services (TSE:STEP) Shares Up 27% - Time to Buy?

Key Points

• STEP Energy Services Ltd. (TSE:STEP) shares surged by 27% during Thursday's trading, hitting a high of C$5.48 with a significant increase in trading volume.
• The Royal Bank of Canada raised its price target for STEP Energy Services from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• The company, with a market cap of approximately C$394.98 million, offers specialized energy services including coiled tubing and hydraulic fracturing solutions.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) rose 27% during trading on Thursday . The stock traded as high as C$5.48 and last traded at C$5.41. Approximately 403,515 shares changed hands during mid-day trading, an increase of 919% from the average daily volume of 39,596 shares. The stock had previously closed at C$4.26.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada raised their price objective on shares of STEP Energy Services from C$4.25 to C$4.50 and gave the company 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 company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$5.04.

STEP Energy Services Stock Performance

The stock's 50 day moving average price is C$4.33 and its 200 day moving average price is C$4.15. The company has a market cap of C$394.98 million, a price-to-earnings ratio of -20.07 and a beta of 1.93. The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 22.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.