Ensign Energy Services Inc. (OTCMKTS:ESVIF) Sees Significant Growth in Short Interest

Ensign Energy Services Inc. (OTCMKTS:ESVIFGet Rating) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 235,700 shares, a growth of 358.6% from the March 15th total of 51,400 shares. Based on an average daily volume of 28,700 shares, the short-interest ratio is currently 8.2 days.

A number of brokerages have recently issued reports on ESVIF. TD Securities upgraded shares of Ensign Energy Services to a “buy” rating in a research report on Monday, March 7th. Royal Bank of Canada raised shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Stifel Nicolaus raised shares of Ensign Energy Services from a “hold” rating to a “buy” rating in a research note on Monday, March 28th. BMO Capital Markets raised shares of Ensign Energy Services from a “market perform” rating to an “outperform” rating in a research note on Monday, March 7th. Finally, CIBC boosted their price target on shares of Ensign Energy Services from C$3.25 to C$4.50 in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $2.55.

ESVIF opened at $3.48 on Friday. Ensign Energy Services has a fifty-two week low of $0.84 and a fifty-two week high of $3.59. The firm has a 50 day simple moving average of $2.38 and a 200 day simple moving average of $1.82.

Ensign Energy Services Company Profile (Get Rating)

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.

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