Secure Energy Services (TSE:SES) Share Price Crosses Below Two Hundred Day Moving Average Following Analyst Downgrade

Secure Energy Services Inc. (TSE:SES)’s share price crossed below its 200-day moving average during trading on Monday after ATB Capital lowered their price target on the stock from C$20.00 to C$19.00. The stock has a 200-day moving average of C$15.02 and traded as low as C$12.72. ATB Capital currently has an outperform rating on the stock. Secure Energy Services shares last traded at C$12.72, with a volume of 1,561,651 shares changing hands.

Several other research firms have also recently commented on SES. Scotiabank cut their price objective on shares of Secure Energy Services from C$19.50 to C$19.00 and set an “outperform” rating on the stock in a research report on Monday. BMO Capital Markets cut their price target on Secure Energy Services from C$20.00 to C$18.00 in a report on Thursday, April 17th. Royal Bank of Canada decreased their price objective on Secure Energy Services from C$17.00 to C$15.00 and set a “sector perform” rating for the company in a report on Monday. Raymond James boosted their target price on Secure Energy Services from C$16.25 to C$18.00 in a research note on Monday, February 24th. Finally, CIBC raised their price target on shares of Secure Energy Services from C$15.25 to C$15.75 and gave the stock a “neutral” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Secure Energy Services has an average rating of “Moderate Buy” and an average price target of C$17.97.

Secure Energy Services Stock Down 6.7 %

The stock has a market cap of C$2.96 billion, a P/E ratio of 4.98, a price-to-earnings-growth ratio of 0.17 and a beta of 2.41. The firm has a 50 day simple moving average of C$13.91 and a 200-day simple moving average of C$15.02. The company has a quick ratio of 1.10, a current ratio of 1.13 and a debt-to-equity ratio of 48.24.

About Secure Energy Services

Secure Waste Infrastructure Corp. provides fluids and solids solutions to the oil and gas industry. It operates in two segments: Midstream Infrastructure and Environmental & Fluid Management. Midstream Infrastructure owns and operates a network of facilities throughout western Canada, North Dakota, and Oklahoma.