STEP Energy Services (TSE:STEP) Shares Down 5% – Here’s What Happened

STEP Energy Services Ltd. (TSE:STEP) dropped 5% during trading on Friday . The stock traded as low as C$4.94 and last traded at C$4.94. Approximately 118,722 shares traded hands during trading, a decline of 7% from the average daily volume of 127,663 shares. The stock had previously closed at C$5.20.

Analysts Set New Price Targets

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

STEP Energy Services Stock Down 6.2 %

The firm has a market cap of C$349.80 million, a P/E ratio of 5.44 and a beta of 2.07. The company has a current ratio of 1.47, a quick ratio of 1.11 and a debt-to-equity ratio of 25.45. The business has a 50-day moving average price of C$4.44 and a 200-day moving average price of C$4.20.

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.