STEP Energy Services (TSE:STEP) Stock Price Down 14.5% – Time to Sell?

STEP Energy Services Ltd. (TSE:STEP)’s share price dropped 14.5% during mid-day trading on Friday . The company traded as low as C$4.00 and last traded at C$4.20. Approximately 57,172 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 133,223 shares. The stock had previously closed at C$4.91.

Analysts Set New Price Targets

Several brokerages have commented on STEP. Raymond James cut their price target on shares of STEP Energy Services from C$6.25 to C$6.00 in a research report on Tuesday, October 15th. BMO Capital Markets upped their price objective on STEP Energy Services from C$4.50 to C$5.00 in a report on Tuesday, November 5th. Finally, Acumen Capital set a C$5.25 price target on STEP Energy Services in a research note on Friday, October 11th.

STEP Energy Services Stock Performance

The stock has a market cap of C$299.62 million, a PE ratio of 4.64 and a beta of 2.07. The company’s 50 day simple moving average is C$4.54 and its 200 day simple moving average is C$4.23. The company has a debt-to-equity ratio of 25.45, a quick ratio of 1.11 and a current ratio of 1.47.

STEP Energy Services Company Profile

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.