ACT Energy Technologies (TSE:ACX) Given New C$9.50 Price Target at ATB Cormark Capital Markets

ACT Energy Technologies (TSE:ACX) had its price target lifted by ATB Cormark Capital Markets from C$9.25 to C$9.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price suggests a potential upside of 57.55% from the stock’s current price.

ACT Energy Technologies Stock Down 0.3%

ACX traded down C$0.02 on Friday, hitting C$6.03. The company had a trading volume of 14,100 shares, compared to its average volume of 92,010. The business’s fifty day simple moving average is C$6.51 and its 200 day simple moving average is C$6.28. ACT Energy Technologies has a 12-month low of C$4.42 and a 12-month high of C$7.74. The company has a market cap of C$232.44 million, a PE ratio of 16.75 and a beta of 0.18.

ACT Energy Technologies (TSE:ACX) last issued its quarterly earnings results on Wednesday, March 25th. The company reported C$0.08 earnings per share for the quarter. The business had revenue of C$109.30 million during the quarter.

About ACT Energy Technologies

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.