Source Energy Services (TSE:SHLE) Stock Crosses Above 50 Day Moving Average – Here’s Why

Source Energy Services Ltd. (TSE:SHLE) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$14.69 and traded as high as C$16.56. Source Energy Services shares last traded at C$16.19, with a volume of 19,781 shares.

Analysts Set New Price Targets

Separately, BMO Capital Markets increased their price objective on shares of Source Energy Services from C$14.00 to C$16.00 in a research report on Thursday, November 7th.

Source Energy Services Price Performance

The company has a debt-to-equity ratio of 123.18, a current ratio of 0.59 and a quick ratio of 0.22. The firm has a market capitalization of C$219.37 million, a price-to-earnings ratio of 1.40 and a beta of 2.82. The business’s fifty day simple moving average is C$14.69 and its 200 day simple moving average is C$12.85.

About Source Energy Services

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.