STEP Energy Services (TSE:STEP) Stock Price Down 2.5% – What’s Next?

Shares of STEP Energy Services Ltd. (TSE:STEP) traded down 2.5% during trading on Monday . The company traded as low as C$4.30 and last traded at C$4.30. 27,716 shares were traded during trading, a decline of 39% from the average session volume of 45,714 shares. The stock had previously closed at C$4.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on STEP shares. BMO Capital Markets raised their target price on shares of STEP Energy Services from C$4.50 to C$5.00 in a research note on Tuesday, November 5th. ATB Capital reduced their price objective on STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Cormark raised STEP Energy Services from a “tender” rating to a “buy” rating and boosted their target price for the stock from C$5.00 to C$5.50 in a report on Monday, January 6th. Acumen Capital set a C$5.25 price target on STEP Energy Services in a report on Friday, October 11th. Finally, Raymond James dropped their price target on shares of STEP Energy Services from C$6.25 to C$6.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$5.21.

STEP Energy Services Stock Performance

The company has a debt-to-equity ratio of 25.45, a quick ratio of 1.11 and a current ratio of 1.47. The firm has a market capitalization of C$311.81 million, a PE ratio of 4.83 and a beta of 2.07. The firm’s 50 day moving average price is C$4.67 and its 200-day moving average price is C$4.29.

Insiders Place Their Bets

In related news, Senior Officer Bradley James Mcfarlane sold 18,001 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$4.20, for a total transaction of C$75,604.20. Corporate insiders own 0.50% of the company’s stock.

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.