Source Energy Services (TSE:SHLE) Price Target Cut to C$4.50 by Analysts at Canaccord Genuity

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Source Energy Services (TSE:SHLE) had its price target cut by equities research analysts at Canaccord Genuity from C$6.00 to C$4.50 in a report released on Tuesday, October 16th. Canaccord Genuity’s price objective points to a potential upside of 155.68% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. GMP Securities downgraded shares of Source Energy Services from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$7.00 to C$5.00 in a research note on Tuesday, October 9th. TD Securities cut shares of Source Energy Services from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$7.00 to C$5.00 in a report on Friday, October 5th. Morgan Stanley reduced their price objective on shares of Source Energy Services from C$7.50 to C$6.50 in a report on Wednesday, September 19th. Finally, Industrial Alliance Securities lifted their price objective on shares of Source Energy Services from C$8.00 to C$8.50 in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$6.20.

Shares of TSE SHLE traded down C$0.01 during trading hours on Tuesday, hitting C$1.76. 507,300 shares of the stock were exchanged, compared to its average volume of 83,838. The company has a current ratio of 2.69, a quick ratio of 1.54 and a debt-to-equity ratio of 52.30. Source Energy Services has a 1-year low of C$1.64 and a 1-year high of C$9.88.

In other news, Director Alan Stewart Hanlon acquired 100,000 shares of Source Energy Services stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average price of C$1.91 per share, with a total value of C$191,000.00.

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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