Source Energy Services (SHLE) Hits New 52-Week Low at $2.95

Shares of Source Energy Services Ltd (TSE:SHLE) reached a new 52-week low on Thursday . The company traded as low as C$2.95 and last traded at C$2.95, with a volume of 78800 shares traded. The stock had previously closed at C$3.02.

A number of analysts have weighed in on the company. Canaccord Genuity reduced their target price on Source Energy Services from C$8.00 to C$6.00 in a research note on Friday, October 5th. TD Securities upgraded Source Energy Services from a “hold” rating to a “buy” rating and increased their target price for the stock from C$6.00 to C$7.00 in a research note on Friday, June 29th. GMP Securities lowered Source Energy Services from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$7.00 to C$5.00 in a research note on Tuesday, October 9th. Industrial Alliance Securities reduced their target price on Source Energy Services from C$8.50 to C$5.75 in a research note on Tuesday, October 9th. Finally, CIBC lowered Source Energy Services from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from C$8.50 to C$4.50 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of C$7.33.

Source Energy Services Company Profile (TSE:SHLE)

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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