Source Energy Services (TSE:SHLE) Sets New 52-Week Low – Here’s What Happened

Shares of Source Energy Services Ltd. (TSE:SHLE) reached a new 52-week low on Tuesday. The stock traded as low as C$9.05 and last traded at C$9.19, with a volume of 6,646 shares. The stock had previously closed at C$9.60.

Source Energy Services Stock Down 2.0%

The stock’s 50-day moving average is C$11.16 and its 200-day moving average is C$13.19. The stock has a market cap of C$122.40 million, a P/E ratio of -9.91 and a beta of 1.80. The company has a current ratio of 1.22, a quick ratio of 0.22 and a debt-to-equity ratio of 144.16.

Source Energy Services (TSE:SHLE) last released its earnings results on Wednesday, July 29th. The company reported C($0.43) EPS for the quarter. Source Energy Services had a negative net margin of 2.21% and a negative return on equity of 6.25%. The company had revenue of C$137.12 million for the quarter. As a group, research analysts anticipate that Source Energy Services Ltd. will post 3.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Source Energy Services

In other news, insider Catherine Victoria Reynolds sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of C$11.02, for a total value of C$55,100.00. Following the completion of the transaction, the insider directly owned 23,785 shares in the company, valued at C$262,110.70. This trade represents a 17.37% decrease in their ownership of the stock. Corporate insiders own 11.09% of the company’s stock.

Source Energy Services Company Profile

Source is a company that focuses on the integrated production and distribution of frac sand, as well as the distribution of other bulk completion materials not produced by Source. Source provides its customers with an end-to-end solution for frac sand supported by its Wisconsin and Peace River mines and processing facilities, its Western Canadian terminal network and its ‘last mile’ logistics capabilities, including its trucking operations, and Sahara, a proprietary well site mobile sand storage and handling system.