STEP Energy Services (TSE:STEP) Trading Up 39% – Here’s Why

Shares of STEP Energy Services Ltd. (TSE:STEP) shot up 39% during mid-day trading on Monday . The stock traded as high as C$4.96 and last traded at C$4.95. 411,177 shares changed hands during mid-day trading, an increase of 334% from the average session volume of 94,783 shares. The stock had previously closed at C$3.56.

Wall Street Analyst Weigh In

STEP has been the topic of a number of research reports. Acumen Capital set a C$5.25 price target on STEP Energy Services in a research note on Friday, October 11th. Royal Bank of Canada lowered their price objective on shares of STEP Energy Services from C$5.50 to C$5.00 in a research note on Thursday, August 8th. Raymond James decreased their price target on shares of STEP Energy Services from C$6.25 to C$6.00 in a research report on Tuesday, October 15th. Finally, BMO Capital Markets boosted their price objective on shares of STEP Energy Services from C$4.50 to C$5.00 in a research report on Tuesday.

STEP Energy Services Trading Up 1.6 %

The stock has a market capitalization of C$364.13 million, a PE ratio of 5.64 and a beta of 2.07. The stock’s 50 day moving average price is C$3.84 and its 200-day moving average price is C$4.02. The company has a quick ratio of 1.11, a current ratio of 1.47 and a debt-to-equity ratio of 25.45.

STEP Energy Services Company Profile

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.