Source Energy Services (TSE:SHLE) Shares Up 1.5% – Here’s Why

Source Energy Services Ltd. (TSE:SHLE)’s share price was up 1.5% during trading on Wednesday . The stock traded as high as C$13.05 and last traded at C$13.04. Approximately 138,825 shares traded hands during trading, an increase of 504% from the average daily volume of 22,999 shares. The stock had previously closed at C$12.85.

Analysts Set New Price Targets

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

Source Energy Services Trading Up 1.5 %

The stock has a market capitalization of C$176.36 million, a P/E ratio of 1.04 and a beta of 2.82. The business has a 50 day simple moving average of C$14.85 and a 200-day simple moving average of C$14.01. The company has a debt-to-equity ratio of 126.37, a quick ratio of 0.22 and a current ratio of 0.61.

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.