STEP Energy Services (TSE:STEP) Trading 39% Higher – Still a Buy?

Shares of STEP Energy Services Ltd. (TSE:STEP) rose 39% during trading on Monday . The stock traded as high as C$4.96 and last traded at C$4.95. Approximately 411,177 shares were traded during mid-day trading, an increase of 334% from the average daily volume of 94,783 shares. The stock had previously closed at C$3.56.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets cut their price target on shares of STEP Energy Services from C$5.00 to C$4.50 in a report on Friday, October 4th. Raymond James decreased their price target on STEP Energy Services from C$6.25 to C$6.00 in a research report on Tuesday, October 15th. Acumen Capital set a C$5.25 price target on STEP Energy Services in a report on Friday, October 11th. Finally, Royal Bank of Canada reduced their price objective on STEP Energy Services from C$5.50 to C$5.00 in a research note on Thursday, August 8th.

STEP Energy Services Trading Up 40.2 %

The firm has a 50 day moving average of C$3.81 and a 200 day moving average of C$4.00. The firm has a market cap of C$357.68 million, a PE ratio of 5.50 and a beta of 2.07. The company has a quick ratio of 1.11, a current ratio of 1.47 and a debt-to-equity ratio of 25.45.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.