STEP Energy Services (TSE:STEP) Trading Up 27% – What’s Next?

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 changed 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 Analyst Weigh In

Separately, Royal Bank Of Canada upped their price objective on 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$5.04.

STEP Energy Services Price Performance

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

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.