Source Energy Services (TSE:SHLE) Sets New 12-Month High After Analyst Upgrade

Posted by Thomas Dobrow on Apr 25th, 2024

Source Energy Services Ltd. (TSE:SHLE – Get Free Report) shares reached a new 52-week high during trading on Tuesday after BMO Capital Markets raised their price target on the stock from C$16.00 to C$18.00. The company traded as high as C$15.79 and last traded at C$15.52, with a volume of 38520 shares trading hands. The stock had previously closed at C$14.45.

Separately, Acumen Capital raised their price objective on Source Energy Services from C$15.00 to C$15.50 in a research note on Thursday, March 14th.

Read Our Latest Analysis on SHLE

Insider Buying and Selling

In other Source Energy Services news, Senior Officer Derren James Newell sold 11,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of C$9.96, for a total value of C$114,540.00. 11.09% of the stock is owned by insiders.

Source Energy Services Stock Up 3.9 %

The company’s fifty day moving average price is C$11.30 and its 200-day moving average price is C$8.42. The stock has a market capitalization of C$218.43 million, a PE ratio of 1.36 and a beta of 2.96. The company has a quick ratio of 0.22, a current ratio of 1.26 and a debt-to-equity ratio of 131.13.

About Source Energy Services

(Get Free Report)

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.