CES Energy Solutions (OTCMKTS:CESDF) Shares Pass Below 50-Day Moving Average – Here’s What Happened

CES Energy Solutions Corp. (OTCMKTS:CESDF) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.22 and traded as low as $13.10. CES Energy Solutions shares last traded at $13.14, with a volume of 1,491 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CESDF. National Bank Financial downgraded shares of CES Energy Solutions from an “outperform” rating to a “sector perform” rating in a report on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of CES Energy Solutions in a report on Monday, May 11th. TD Securities reissued a “hold” rating on shares of CES Energy Solutions in a report on Friday, May 8th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of CES Energy Solutions in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

CES Energy Solutions Stock Performance

The company’s 50-day moving average is $13.20 and its 200-day moving average is $11.39.

About CES Energy Solutions

CES Energy Solutions Corp. is a North American provider of specialty chemical solutions and services to the oil and gas industry. The company develops, manufactures and markets a comprehensive range of products used in drilling, completion, production and environmental applications. These offerings include drilling and completion fluids, production chemicals, proppants and solids control equipment, all designed to optimize well performance and minimize environmental impact.

Headquartered in Calgary, Alberta, CES Energy Solutions operates a network of manufacturing, blending and distribution facilities across Canada and the United States.