Tenaz Energy (TSE:TNZ) Shares Down 1% - What's Next?

Key Points

• Tenaz Energy's stock price decreased by 1% to C$18.62 amid a significant drop in trading volume, down 37% from the average.
• National Bankshares raised their price target for Tenaz Energy from C$21.00 to C$23.00, indicating a potential upside despite the current stock decline.
• The company, which focuses on acquiring and developing oil and gas assets, has a market cap of C$521.14 million and a notably high PE ratio of 280.82.

Tenaz Energy Corp. (TSE:TNZ - Get Free Report) shares traded down 1% during trading on Wednesday . The company traded as low as C$18.37 and last traded at C$18.62. 41,200 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 65,686 shares. The stock had previously closed at C$18.81.

Analysts Set New Price Targets

Separately, National Bankshares upped their target price on Tenaz Energy from C$21.00 to C$23.00 in a research note on Thursday, May 1st.

Tenaz Energy Stock Up 1.5%

The company has a quick ratio of 2.77, a current ratio of 1.43 and a debt-to-equity ratio of 10.56. The stock has a market cap of C$523.10 million, a PE ratio of 281.88 and a beta of 1.65. The business has a 50 day moving average price of C$19.06 and a 200 day moving average price of C$15.66.

About Tenaz Energy

Tenaz Energy Corp., an energy company, engages in the acquisition and development of oil and gas assets in Canada and the Netherlands. The company was formerly known as Altura Energy Inc and changed its name to Tenaz Energy Corp. in October 2021. Tenaz Energy Corp. is headquartered in Calgary, Canada.