Western Energy Services (TSE:WRG) Shares Pass Above 50 Day Moving Average – Time to Sell?

Shares of Western Energy Services Corp. (TSE:WRG) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$2.68 and traded as high as C$3.20. Western Energy Services shares last traded at C$3.12, with a volume of 3,902 shares changing hands.

Wall Street Analysts Forecast Growth

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

Western Energy Services Trading Up 2.3%

The company has a quick ratio of 1.46, a current ratio of 1.82 and a debt-to-equity ratio of 37.49. The firm’s 50 day moving average is C$2.68 and its two-hundred day moving average is C$2.30. The stock has a market cap of C$105.59 million, a price-to-earnings ratio of -4.11, a price-to-earnings-growth ratio of 0.09 and a beta of 0.48.

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.