ACT Energy Technologies (TSE:ACX) Trading 2.9% Higher – Here’s Why

Shares of ACT Energy Technologies Ltd. (TSE:ACX) traded up 2.9% during trading on Thursday . The company traded as high as C$6.42 and last traded at C$6.42. 19,329 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 76,075 shares. The stock had previously closed at C$6.24.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Raymond James Financial lifted their target price on ACT Energy Technologies from C$9.50 to C$10.50 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Acumen Capital lifted their target price on ACT Energy Technologies from C$7.50 to C$9.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Finally, ATB Cormark Capital Markets lifted their target price on ACT Energy Technologies from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ACT Energy Technologies presently has an average rating of “Buy” and a consensus target price of C$9.17.

ACT Energy Technologies Price Performance

The stock has a fifty day moving average price of C$6.70 and a two-hundred day moving average price of C$5.78. The company has a market cap of C$214.82 million, a P/E ratio of 8.92 and a beta of 0.46.

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.