STEP Energy Services (TSE:STEP) Stock Price Up 27.2% - Should You Buy?

Key Points

• STEP Energy Services Ltd. shares surged by 27.2%, reaching a last traded price of C$5.42, with trading volume up 830% compared to its average daily volume.
• Analysts have set a new price target of C$4.50, with an average rating of "Moderate Buy" and a price target of C$5.04 for the stock.
• The company specializes in energy services including coiled tubing and hydraulic fracturing solutions, differentiating itself with modern equipment and a commitment to safety.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) shares were up 27.2% on Thursday . The company traded as high as C$5.48 and last traded at C$5.42. Approximately 365,905 shares traded hands during mid-day trading, an increase of 830% from the average daily volume of 39,337 shares. The stock had previously closed at C$4.26.

Analysts Set New Price Targets

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 report on Thursday, June 26th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of C$5.04.

STEP Energy Services Stock Up 27.2%

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

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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