STEP Energy Services (TSE:STEP) Stock Price Up 27% – Here’s Why

STEP Energy Services Ltd. (TSE:STEP) rose 27% during mid-day trading on Friday . The company traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares traded hands during mid-day trading, an increase of 982% from the average daily volume of 39,744 shares. The stock had previously closed at C$4.26.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada lifted their target price on STEP Energy Services from C$4.25 to C$4.50 and gave the stock a “sector perform” rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$5.04.

STEP Energy Services Price Performance

The company has a debt-to-equity ratio of 22.04, a current ratio of 1.39 and a quick ratio of 1.11. The firm has a market cap of C$394.25 million, a PE ratio of -20.04 and a beta of 1.93. The business has a fifty day moving average price of C$4.37 and a two-hundred day moving average price of C$4.17.

About STEP Energy Services

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.