Western Energy Services (TSE:WRG) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Western Energy Services Corp. (TSE:WRG)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$2.16 and traded as high as C$2.18. Western Energy Services shares last traded at C$2.18, with a volume of 200 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WRG. Atb Cap Markets upgraded shares of Western Energy Services to a “hold” rating in a report on Wednesday, January 15th. ATB Capital dropped their price target on Western Energy Services from C$3.25 to C$2.75 and set a “sector perform” rating for the company in a research report on Monday, May 5th.

Western Energy Services Price Performance

The company has a debt-to-equity ratio of 37.49, a quick ratio of 1.46 and a current ratio of 1.82. The stock has a market capitalization of C$73.77 million, a PE ratio of -10.38, a P/E/G ratio of 0.09 and a beta of 1.49. The company’s fifty day simple moving average is C$2.16 and its two-hundred day simple moving average is C$2.44.

Insider Activity

In related news, insider Sime Armoyan acquired 25,000 shares of Western Energy Services stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average cost of C$2.40 per share, for a total transaction of C$60,000.00. Insiders have acquired 182,600 shares of company stock worth $407,850 over the last ninety days. 32.65% of the stock is currently owned by insiders.

About Western Energy Services

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.