STEP Energy Services (TSE:STEP) Trading 27.7% Higher - What's Next?

Key Points

• STEP Energy Services (TSE:STEP) saw a significant increase of 27.7% in its stock price, reaching C$5.48 during mid-day trading, compared to a previous close at C$4.26.
• Royal Bank of Canada has upgraded the price target for STEP Energy Services from C$4.25 to C$4.50 and maintains a "sector perform" rating, with an average consensus target price of C$5.04.
• The company has a debt-to-equity ratio of 22.04 and a current ratio of 1.39, indicating its financial leverage and liquidity position.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) traded up 27.7% during mid-day trading on Thursday . The stock traded as high as C$5.48 and last traded at C$5.44. 275,277 shares traded hands during mid-day trading, an increase of 613% from the average session volume of 38,603 shares. The stock had previously closed at C$4.26.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised 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 research note on Thursday, June 26th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$5.04.

STEP Energy Services Price Performance

The company has a debt-to-equity ratio of 22.04, a current ratio of 1.39 and a quick ratio of 1.11. 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 firm has a fifty day moving average of C$4.33 and a two-hundred day moving average of C$4.15.

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.