STEP Energy Services (TSE:STEP) Trading Down 6.2% - Here's What Happened

STEP Energy Services Ltd. (TSE:STEP - Get Free Report) shares fell 6.2% on Thursday . The stock traded as low as C$4.10 and last traded at C$4.12. 52,167 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 71,835 shares. The stock had previously closed at C$4.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Cormark upgraded shares of STEP Energy Services from a "tender" rating to a "buy" rating and upped their target price for the stock from C$5.00 to C$5.50 in a research report on Monday, January 6th. ATB Capital reduced their price objective on STEP Energy Services from C$5.50 to C$5.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. Finally, Raymond James lowered their target price on STEP Energy Services from C$5.75 to C$5.50 and set an "outperform" rating for the company in a research note on Thursday, March 13th.

STEP Energy Services Trading Down 2.8 %

The business's 50 day simple moving average is C$4.34 and its 200-day simple moving average is C$4.37. The company has a debt-to-equity ratio of 22.04, a current ratio of 1.39 and a quick ratio of 1.11. The stock has a market capitalization of C$269.05 million, a P/E ratio of 6.51 and a beta of 2.07.

STEP Energy Services Company Profile

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.