ACT Energy Technologies (TSE:ACX) Trading 1.8% Higher – What’s Next?

ACT Energy Technologies Ltd. (TSE:ACX) shares shot up 1.8% during trading on Thursday . The stock traded as high as C$6.17 and last traded at C$6.06. 50,815 shares traded hands during trading, a decline of 46% from the average session volume of 94,432 shares. The stock had previously closed at C$5.95.

Wall Street Analysts Forecast Growth

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

ACT Energy Technologies Price Performance

The company’s 50 day simple moving average is C$6.56 and its 200 day simple moving average is C$6.26. The firm has a market cap of C$233.59 million, a price-to-earnings ratio of 16.83 and a beta of 0.09.

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

About ACT Energy Technologies

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.