Source Energy Services (TSE:SHLE) Stock Price Down 2.5% – Here’s Why

Source Energy Services Ltd. (TSE:SHLE) dropped 2.5% during trading on Wednesday . The stock traded as low as C$14.52 and last traded at C$14.93. Approximately 13,140 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 17,671 shares. The stock had previously closed at C$15.31.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets upped their price target on shares of Source Energy Services from C$14.00 to C$16.00 in a report on Thursday, November 7th.

Source Energy Services Stock Down 2.5 %

The company has a market capitalization of C$202.30 million, a P/E ratio of 1.29 and a beta of 2.82. The company has a debt-to-equity ratio of 123.18, a current ratio of 0.59 and a quick ratio of 0.22. The company has a 50 day moving average of C$15.91 and a 200-day moving average of C$13.51.

Source Energy Services Company Profile

Source Energy Services Ltd. engages in the production and distribution of Northern White frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops Sahara, a wellsite mobile sand storage and handling system.