ACT Energy Technologies (TSE:ACX) Stock Price Up 11.8% – Still a Buy?

ACT Energy Technologies Ltd. (TSE:ACX)’s stock price shot up 11.8% during mid-day trading on Tuesday . The stock traded as high as C$7.63 and last traded at C$7.46. 153,552 shares traded hands during mid-day trading, an increase of 82% from the average session volume of 84,507 shares. The stock had previously closed at C$6.67.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACX shares. Raymond James Financial lifted their price objective on ACT Energy Technologies from C$9.50 to C$10.50 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Acumen Capital increased their target price on ACT Energy Technologies from C$7.50 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, ATB Cormark Capital Markets raised their target price on ACT Energy Technologies from C$7.25 to C$8.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ACT Energy Technologies has an average rating of “Buy” and a consensus price target of C$9.17.

ACT Energy Technologies Trading Up 11.8%

The stock has a fifty day moving average of C$6.76 and a two-hundred day moving average of C$5.94. The stock has a market capitalization of C$249.62 million, a price-to-earnings ratio of 10.36 and a beta of 0.59.

ACT Energy Technologies (TSE:ACX) last announced its earnings results on Wednesday, March 25th. The company reported C$0.08 EPS for the quarter. The business had revenue of C$109.30 million for the quarter.

About ACT Energy Technologies

ACT Energy Technologies Ltd. is based in Calgary, Alberta, Canada. We operate in Canada and in the United States as Altitude Energy Partners, and in the U.S. under Discovery Downhole Services and Rime Downhole Technologies.