ADES International (LON:ADES) Rating Reiterated by Canaccord Genuity

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Canaccord Genuity restated their buy rating on shares of ADES International (LON:ADES) in a report issued on Friday morning, Digital Look reports.

Shares of LON:ADES opened at GBX 1,230 ($16.07) on Friday. ADES International has a 52-week low of GBX 12.30 ($0.16) and a 52-week high of GBX 1,500 ($19.60). The company has a debt-to-equity ratio of 150.91, a quick ratio of 1.41 and a current ratio of 1.90. The business’s 50 day simple moving average is GBX 722.14 and its two-hundred day simple moving average is GBX 802.84. The firm has a market cap of $538.67 million and a P/E ratio of 844.78.

In related news, insider Mohamed Farouk bought 1,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were bought at an average price of GBX 1,309 ($17.10) per share, for a total transaction of £13,090 ($17,104.40). Insiders bought 2,500 shares of company stock worth $1,972,000 in the last 90 days.

About ADES International

ADES International Holding Ltd, through its subsidiaries, provides oil and gas drilling and production services in the Kingdom of Saudi Arabia, Algeria, and Egypt. The company offers offshore and onshore contract drilling services, including drilling and work over services. It also provides accommodation, catering, and other barge based support services; project services, such as outsourcing various operating projects for clients comprising maintenance and repair services; and production services.

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