Source Energy Services (TSE:SHLE) Sets New 52-Week High on Analyst Upgrade

Source Energy Services Ltd. (TSE:SHLE) shares hit a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$16.00 to C$18.00. The stock traded as high as C$15.79 and last traded at C$15.52, with a volume of 38520 shares. The stock had previously closed at C$14.45.

Separately, Acumen Capital boosted their price target on Source Energy Services from C$15.00 to C$15.50 in a report on Thursday, March 14th.

Insider Buying and Selling at Source Energy Services

In other Source Energy Services news, Senior Officer Derren James Newell sold 11,500 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of C$9.96, for a total transaction of C$114,540.00. 11.09% of the stock is currently owned by corporate insiders.

Source Energy Services Stock Performance

The stock has a market cap of C$210.30 million, a P/E ratio of 1.31 and a beta of 2.96. The company has a quick ratio of 0.22, a current ratio of 1.26 and a debt-to-equity ratio of 131.13. The business has a 50 day moving average price of C$11.14 and a two-hundred day moving average price of C$8.35.

About Source Energy Services

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.