STEP Energy Services (TSE:STEP) Trading Up 27% - Here's Why

Key Points

• STEP Energy Services' stock surged by 27% on Friday, reaching a high of C$5.48 and trading volume increased by 982% compared to the average daily volume.
• The Royal Bank of Canada raised its price target on the stock from C$4.25 to C$4.50, maintaining a "sector perform" rating.
• With a market capitalization of C$394.25 million and a debt-to-equity ratio of 22.04, STEP Energy Services specializes in energy services such as coiled tubing and hydraulic fracturing solutions.

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) was up 27% during trading on Friday . The stock 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.

Analyst Ratings Changes

Separately, Royal Bank Of Canada increased 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 report on Thursday, June 26th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, STEP Energy Services has an average rating of "Moderate Buy" and a consensus price target of C$5.04.

STEP Energy Services Stock Performance

The firm's 50-day simple moving average is C$4.35 and its two-hundred day simple moving average is C$4.16. The company has a current ratio of 1.39, a quick ratio of 1.11 and a debt-to-equity ratio of 22.04. The stock 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.

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