Source Energy Services (TSE:SHLE) Reaches New 1-Year High at $18.45

Shares of Source Energy Services Ltd. (TSE:SHLE) hit a new 52-week high during trading on Monday . The company traded as high as C$18.45 and last traded at C$17.43, with a volume of 56595 shares trading hands. The stock had previously closed at C$16.70.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Source Energy Services from C$16.00 to C$18.00 in a research note on Tuesday, April 23rd. Acumen Capital boosted their target price on Source Energy Services from C$15.00 to C$15.50 in a research note on Thursday, March 14th.

Source Energy Services Stock Performance

The stock has a market capitalization of C$231.98 million, a P/E ratio of 1.44 and a beta of 2.96. The company’s fifty day simple moving average is C$11.76 and its 200 day simple moving average is C$8.64. The company has a current ratio of 1.26, a quick ratio of 0.22 and a debt-to-equity ratio of 131.13.

Insiders Place Their Bets

In other news, Senior Officer Derren James Newell sold 11,500 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of C$9.96, for a total transaction of C$114,540.00. Corporate insiders own 11.09% of the company’s stock.

About Source Energy Services

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.