STEP Energy Services (TSE:STEP) Trading 27% Higher - What's Next?

Key Points

• STEP Energy Services Ltd. saw a remarkable 27% increase in its stock price during mid-day trading, reaching a high of C$5.48 from a previous close of C$4.26.
• Royal Bank of Canada adjusted its price target for the company's shares from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• The company has experienced a trading volume increase of 982% compared to its average daily volume, with approximately 430,190 shares changing hands.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) shares traded up 27% during trading on Friday . The stock traded as high as C$5.48 and last traded at C$5.41. 430,190 shares changed hands during 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 boosted their price target on 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, STEP Energy Services currently has a consensus rating of "Moderate Buy" and a consensus target price of C$5.04.

STEP Energy Services Trading Up 27.0%

The firm's fifty day simple moving average is C$4.35 and its 200 day simple moving average is C$4.16. The stock has a market capitalization of C$394.25 million, a P/E 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.

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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