Western Energy Services (TSE:WRG) Shares Cross Below 50-Day Moving Average - Here's What Happened

Key Points

• Western Energy Services Corp. (TSE:WRG) saw its share price drop below its 50 day moving average of C$2.14, reaching a low of C$2.06 on Monday.
• ATB Capital has reduced its target price for the company from C$3.25 to C$2.75 and assigned a "sector perform" rating.
• The company has a market cap of C$69.71 million and operates in the oilfield service industry in both Canada and the USA.

Shares of Western Energy Services Corp. (TSE:WRG - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$2.14 and traded as low as C$2.06. Western Energy Services shares last traded at C$2.06, with a volume of 101 shares traded.

Analyst Ratings Changes

Separately, ATB Capital lowered their target price on shares of Western Energy Services from C$3.25 to C$2.75 and set a "sector perform" rating for the company in a research note on Monday, May 5th.

Western Energy Services Stock Performance

The company has a market cap of C$70.05 million, a PE ratio of -9.86, a price-to-earnings-growth ratio of 0.09 and a beta of 1.49. The business has a 50 day simple moving average of C$2.14 and a two-hundred day simple moving average of C$2.20. The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 37.49.

About Western Energy Services

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies.