STEP Energy Services (TSE:STEP) Stock Price Down 6.2% – Should You Sell?

STEP Energy Services Ltd. (TSE:STEP)’s share price dropped 6.2% during mid-day trading on Thursday . The company traded as low as C$4.10 and last traded at C$4.12. Approximately 52,167 shares traded hands during trading, a decline of 27% from the average daily volume of 71,835 shares. The stock had previously closed at C$4.39.

Analysts Set New Price Targets

Several research firms have commented on STEP. Raymond James decreased their target price on shares of STEP Energy Services from C$5.75 to C$5.50 and set an “outperform” rating for the company in a research report on Thursday, March 13th. ATB Capital lowered their target price on STEP Energy Services from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Finally, Cormark upgraded STEP Energy Services from a “tender” rating to a “buy” rating and boosted their price target for the stock from C$5.00 to C$5.50 in a research report on Monday, January 6th.

STEP Energy Services Price Performance

The business has a 50-day simple moving average of C$4.35 and a two-hundred day simple moving average of C$4.36. The company has a quick ratio of 1.11, a current ratio of 1.39 and a debt-to-equity ratio of 22.04. The stock has a market capitalization of C$286.94 million, a price-to-earnings ratio of 6.94 and a beta of 2.07.

STEP Energy Services Company Profile

STEP Energy Services is an energy services company that provides coiled tubing, fluid and nitrogen pumping and hydraulic fracturing solutions. Our combination of modern equipment along with our commitment to safety and quality execution has differentiated STEP in plays where wells are deeper, have longer laterals and higher pressures.