Canaccord Genuity Trims Source Energy Services (SHLE) Target Price to C$3.00

Source Energy Services (TSE:SHLE) had its price target cut by Canaccord Genuity from C$4.00 to C$3.00 in a research note published on Thursday morning.

SHLE has been the topic of a number of other research reports. TD Securities downgraded Source Energy Services from a buy rating to a hold rating and dropped their price objective for the stock from C$7.00 to C$5.00 in a research note on Friday, October 5th. CIBC downgraded Source Energy Services from a neutral rating to an underperform rating and dropped their price objective for the stock from C$4.50 to C$2.25 in a research note on Friday, November 2nd. Morgan Stanley dropped their price objective on Source Energy Services from C$7.50 to C$6.50 in a research note on Wednesday, September 19th. BMO Capital Markets dropped their price objective on Source Energy Services from C$9.00 to C$3.00 in a research note on Friday, November 2nd. Finally, GMP Securities downgraded Source Energy Services from a buy rating to a hold rating and dropped their price objective for the stock from C$7.00 to C$5.00 in a research note on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of C$6.10.

SHLE opened at C$1.45 on Thursday. Source Energy Services has a one year low of C$1.35 and a one year high of C$9.65. The company has a quick ratio of 1.34, a current ratio of 2.46 and a debt-to-equity ratio of 48.68.

In related news, Director Alan Stewart Hanlon bought 100,000 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of C$1.91 per share, with a total value of C$191,000.00. Insiders have bought 106,000 shares of company stock worth $201,140 over the last ninety days.

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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