Source Energy Services (TSE:SHLE) Hits New 52-Week Low at $0.54

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Source Energy Services Ltd (TSE:SHLE) shares reached a new 52-week low on Tuesday . The company traded as low as C$0.54 and last traded at C$0.54, with a volume of 18300 shares trading hands. The stock had previously closed at C$0.56.

SHLE has been the topic of a number of analyst reports. Cormark lowered their target price on shares of Source Energy Services from C$8.00 to C$3.00 in a research note on Wednesday, May 8th. Canaccord Genuity cut shares of Source Energy Services from a “speculative buy” rating to a “hold” rating and lowered their target price for the company from C$1.60 to C$1.00 in a research note on Tuesday, July 9th. TD Securities lifted their target price on shares of Source Energy Services to C$0.60 and gave the company a “reduce” rating in a research note on Friday, August 2nd. Industrial Alliance Securities cut shares of Source Energy Services from a “speculative buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, BMO Capital Markets lowered their target price on shares of Source Energy Services from C$1.50 to C$1.00 in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. Source Energy Services currently has an average rating of “Hold” and a consensus target price of C$1.95.

The company has a current ratio of 1.61, a quick ratio of 0.87 and a debt-to-equity ratio of 84.29. The firm’s 50 day simple moving average is C$0.66. The stock has a market cap of $34.13 million and a P/E ratio of -2.49.

Source Energy Services Company Profile (TSE:SHLE)

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

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