ACT Energy Technologies (TSE:ACX) Price Target Raised to C$9.00 at Acumen Capital

ACT Energy Technologies (TSE:ACX) had its price objective hoisted by Acumen Capital from C$7.50 to C$9.00 in a research note released on Tuesday,BayStreet.CA reports. Acumen Capital currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. ATB Cormark Capital Markets raised their target price on ACT Energy Technologies from C$7.25 to C$8.00 and gave the company an “outperform” rating in a report on Tuesday. Raymond James Financial upped their price target on ACT Energy Technologies from C$8.75 to C$10.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$9.17.

ACT Energy Technologies Trading Up 1.9%

ACX stock opened at C$6.80 on Tuesday. The firm has a market cap of C$227.53 million, a PE ratio of 9.44 and a beta of 0.89. ACT Energy Technologies has a 1 year low of C$4.23 and a 1 year high of C$6.92. The company has a fifty day simple moving average of C$5.83 and a 200 day simple moving average of C$5.33.

Key Stories Impacting ACT Energy Technologies

Here are the key news stories impacting ACT Energy Technologies this week:

• Positive Sentiment: Announced purchase of SB Directional Services’ U.S. directional drilling business for US$47 million to accelerate U.S. expansion and add drilling services capabilities; the deal is the primary corporate catalyst driving the move higher. MarketWatch: ACT Energy Technologies Agrees to Acquire Directional Drilling Business of SB Directional Services for $47M Yahoo Finance: ACT ENERGY TECHNOLOGIES ACCELERATES U.S. GROWTH WITH ACQUISITION OF SB DIRECTIONAL SERVICES
• Positive Sentiment: ATB Cormark raised its price target to C$8.00 and maintained an “outperform” rating, signaling dealer-level confidence and adding upward analyst momentum. BayStreet.CA: Analyst Ratings TickerReport: ATB Cormark target raise
• Positive Sentiment: Acumen Capital boosted its target to C$9.00 and reiterated a “buy” view, increasing implied upside and reinforcing buy-side interest. BayStreet.CA: Analyst Ratings
• Positive Sentiment: Raymond James raised its target to C$10.50 with an “outperform” rating, the most bullish of the recent updates and likely to attract institutional attention. BayStreet.CA: Analyst Ratings
• Neutral Sentiment: Market activity shows heavier-than-normal volume and the stock is trading above its 50- and 200-day moving averages; fundamentals still show a modest P/E and room for multiple re-rating if acquisition integration proves successful.

ACT Energy Technologies Company Profile

ACT Energy Technologies Ltd. is based in Calgary, Alberta, Canada. We operate in Canada and in the United States as Altitude Energy Partners, and in the U.S. under Discovery Downhole Services and Rime Downhole Technologies.