Source Energy Services Ltd (SHLE) Receives Consensus Recommendation of “Hold” from Analysts

Source Energy Services Ltd (TSE:SHLE) has been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is C$5.63.

A number of brokerages recently commented on SHLE. Canaccord Genuity cut their target price on Source Energy Services from C$3.00 to C$2.75 in a research note on Thursday, January 10th. Industrial Alliance Securities cut their target price on Source Energy Services from C$8.50 to C$5.75 in a research note on Tuesday, October 9th. BMO Capital Markets cut their target price on Source Energy Services from C$9.00 to C$3.00 in a research note on Friday, November 2nd. TD Securities cut their target price on Source Energy Services from C$3.50 to C$2.50 and set a “hold” rating for the company in a research note on Friday, November 2nd. Finally, Morgan Stanley cut their target price on Source Energy Services from C$4.50 to C$2.00 in a research note on Thursday, December 13th.

Shares of SHLE stock remained flat at $C$1.20 during trading hours on Tuesday. The stock had a trading volume of 26,200 shares, compared to its average volume of 41,299. Source Energy Services has a one year low of C$1.04 and a one year high of C$9.05. The company has a debt-to-equity ratio of 48.68, a current ratio of 2.46 and a quick ratio of 1.34.

In related news, Director Alan Stewart Hanlon purchased 100,000 shares of the stock in a transaction on Tuesday, November 6th. The shares were purchased at an average cost of C$1.91 per share, for a total transaction of C$191,000.00. Insiders acquired 109,475 shares of company stock worth $205,588 over the last quarter.

Source Energy Services Company Profile

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand primarily to the Western Canadian Sedimentary Basin. The company was founded in 2017 and is headquartered in Calgary, Canada.

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Analyst Recommendations for Source Energy Services (TSE:SHLE)

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