ACT Energy Technologies (TSE:ACX) Announces Earnings Results

ACT Energy Technologies (TSE:ACX) announced its earnings results on Friday. The company reported C$0.36 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$219.03 million during the quarter.

ACT Energy Technologies Trading Down 3.3%

ACX stock traded down C$0.24 during mid-day trading on Friday, hitting C$7.09. The stock had a trading volume of 280,757 shares, compared to its average volume of 124,439. The firm has a market capitalization of C$273.92 million, a P/E ratio of 10.13 and a beta of 0.14. The firm has a fifty day simple moving average of C$8.05 and a 200 day simple moving average of C$6.85. ACT Energy Technologies has a 52 week low of C$4.74 and a 52 week high of C$9.47.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets boosted their price objective on shares of ACT Energy Technologies from C$9.25 to C$9.50 and gave the stock an “outperform” rating in a research note on Friday, July 10th. Three analysts have rated the stock with a Buy rating. According to data from MarketBeat, ACT Energy Technologies presently has a consensus rating of “Buy” and an average target price of C$9.67.

About ACT Energy Technologies

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.