STEP Energy Services (TSE:STEP) Trading 27% Higher - Still a Buy?

Key Points

• STEP Energy Services Ltd. shares surged by 27%, closing at C$5.41, following a trading volume increase of 982% over its average.
• The Royal Bank of Canada raised its target price for the stock to C$4.50, where analysts currently rate it as a "Moderate Buy" with an average target price of C$5.04.
• Financial metrics show a debt-to-equity ratio of 22.04 and a market capitalization of C$394.25 million, indicating a volatile yet potentially high-reward investment.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report)'s share price shot up 27% during trading on Thursday . The company traded as high as C$5.48 and last traded at C$5.41. 430,190 shares changed 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.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised their target price 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 company. Based on data from MarketBeat.com, STEP Energy Services has a consensus rating of "Moderate Buy" and an average target price of C$5.04.

STEP Energy Services Stock Performance

The company has a debt-to-equity ratio of 22.04, a quick ratio of 1.11 and a current ratio of 1.39. The firm's 50 day moving average price is C$4.35 and its 200-day moving average price is C$4.16. The firm has a market capitalization of C$394.25 million, a PE 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.

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.