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

STEP Energy Services Ltd. (TSE:STEP)’s share price was up 27% during trading on Friday . The stock traded as high as C$5.48 and last traded at C$5.41. Approximately 430,190 shares were traded during 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 Analyst Weigh In

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

STEP Energy Services Price Performance

The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04. The stock has a market capitalization of C$394.25 million, a price-to-earnings ratio of -20.04 and a beta of 1.93. The company’s 50-day simple moving average is C$4.37 and its 200 day simple moving average is C$4.17.

STEP Energy Services Company Profile

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.