Western Energy Services (TSE:WRG) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Western Energy Services Corp. (TSE:WRG)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$2.11 and traded as high as C$2.21. Western Energy Services shares last traded at C$2.21, with a volume of 1,608 shares.

Wall Street Analyst Weigh In

Separately, ATB Capital cut their price objective on Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating on the stock in a report on Friday, December 19th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$2.50.

Western Energy Services Trading Down 3.9%

The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46. The company has a market cap of C$74.79 million, a price-to-earnings ratio of -11.63, a price-to-earnings-growth ratio of 0.09 and a beta of 0.39. The business’s fifty day moving average price is C$2.11 and its 200 day moving average price is C$2.10.

Western Energy Services (TSE:WRG) last announced its earnings results on Tuesday, October 21st. The company reported C($0.07) earnings per share (EPS) for the quarter. Western Energy Services had a negative return on equity of 2.40% and a negative net margin of 3.45%.The company had revenue of C$50.04 million for the quarter. Research analysts anticipate that Western Energy Services Corp. will post 0.1499094 earnings per share for the current fiscal year.

Western Energy Services Company Profile

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment.