Short Interest in STEP Energy Services Ltd. (OTCMKTS:SNVVF) Decreases By 59.8%

STEP Energy Services Ltd. (OTCMKTS:SNVVF – Get Rating) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totalling 166,500 shares, a decline of 59.8% from the April 30th total of 414,300 shares. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is presently 12.6 days.

STEP Energy Services Stock Performance

SNVVF stock remained flat at $2.30 during mid-day trading on Friday. 1,020 shares of the company’s stock were exchanged, compared to its average volume of 7,806. STEP Energy Services has a 52 week low of $2.16 and a 52 week high of $5.19. The stock has a 50-day moving average of $2.41 and a two-hundred day moving average of $3.31.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reduced their price objective on shares of STEP Energy Services from C$6.00 to C$5.00 in a report on Friday, May 12th.

About STEP Energy Services

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STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing, fracturing, and wireline solutions to service the oil and gas industry in Canada and the United States. It also provides chemical laboratory solutions; fluid pumping services for coiled tubing operations and standalone projects; and nitrogen pumping solutions for coiled tubing and hydraulic fracturing operations, as well as cased hole wireline and open hole wireline services.