Source Energy Services (TSE:SHLE) Sets New 52-Week High on Analyst Upgrade

Source Energy Services Ltd. (TSE:SHLE)’s share price hit a new 52-week high 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. The stock had previously closed at C$14.45.

Separately, Acumen Capital boosted their price target on shares of Source Energy Services from C$15.00 to C$15.50 in a report on Thursday, March 14th.

Insider Activity

In other news, Senior Officer Derren James Newell sold 11,500 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of C$9.96, for a total value of C$114,540.00. 11.09% of the stock is currently owned by insiders.

Source Energy Services Stock Up 7.4 %

The company has a current ratio of 1.26, a quick ratio of 0.22 and a debt-to-equity ratio of 131.13. The stock has a market cap of C$210.30 million, a P/E ratio of 1.31 and a beta of 2.96. The firm has a 50-day simple moving average of C$11.14 and a two-hundred day simple moving average of C$8.35.

Source Energy Services Company Profile

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.