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

Key Points

• STEP Energy Services' stock price surged 27% during trading, reaching a high of C$5.48, with trading volume increasing by 982% compared to its average.
• Royal Bank of Canada raised its target price for STEP Energy Services from C$4.25 to C$4.50, maintaining a "sector perform" rating, which aligns with the company's overall "Moderate Buy" rating.
• The company has a market cap of C$394.25 million and reported a quick ratio of 1.11, indicating a strong liquidity position.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price rose 27% during mid-day trading on Thursday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares were traded 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 upped their target price 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 report on Thursday, June 26th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, STEP Energy Services currently has an average rating of "Moderate Buy" and an average price target of C$5.04.

STEP Energy Services Stock Up 27.0%

The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04. The company has a market cap of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93. The stock has a fifty day moving average price of C$4.33 and a two-hundred day moving average price of C$4.15.

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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