STEP Energy Services (TSE:STEP) Shares Down 14.5% After Analyst Downgrade

STEP Energy Services Ltd. (TSE:STEP)’s stock price fell 14.5% during trading on Friday after Raymond James lowered their price target on the stock from C$6.25 to C$6.00. Raymond James currently has an outperform rating on the stock. STEP Energy Services traded as low as C$4.00 and last traded at C$4.20. 57,172 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 133,223 shares. The stock had previously closed at C$4.91.

Other research analysts also recently issued research reports about the stock. Acumen Capital set a C$5.25 price objective on shares of STEP Energy Services in a research note on Friday, October 11th. BMO Capital Markets upped their price target on shares of STEP Energy Services from C$4.50 to C$5.00 in a research report on Tuesday, November 5th.

STEP Energy Services Stock Down 14.9 %

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 firm has a market capitalization of C$299.62 million, a price-to-earnings ratio of 4.64 and a beta of 2.07. The firm has a 50 day moving average price of C$4.55 and a two-hundred day moving average price of C$4.23.

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.