Western Energy Services (TSE:WRG) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Western Energy Services Corp. (TSE:WRG) shares passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$2.20 and traded as high as C$2.53. Western Energy Services shares last traded at C$2.53, with a volume of 1,604 shares.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets dropped their price objective on shares of Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating on the stock in a report on Friday, December 19th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$2.50.

Western Energy Services Stock Down 0.8%

The stock has a market capitalization of C$85.62 million, a P/E ratio of -13.32, a price-to-earnings-growth ratio of 0.09 and a beta of 0.52. The company has a debt-to-equity ratio of 37.49, a current ratio of 1.82 and a quick ratio of 1.46. The stock has a fifty day moving average price of C$2.20 and a 200 day moving average price of C$2.13.

About Western Energy Services

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment.