Source Energy Services (TSE:SHLE) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

Source Energy Services Ltd. (TSE:SHLE) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.22 and traded as low as C$12.00. Source Energy Services shares last traded at C$12.01, with a volume of 4,902 shares changing hands.

Source Energy Services Stock Up 0.1%

The firm has a market cap of C$156.93 million, a P/E ratio of -12.64 and a beta of 1.29. The company has a quick ratio of 0.22, a current ratio of 1.22 and a debt-to-equity ratio of 144.16. The firm has a fifty day moving average of C$13.18 and a 200-day moving average of C$14.97.

Source Energy Services (TSE:SHLE) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($0.43) earnings per share for the quarter. The company had revenue of C$137.12 million during the quarter. Source Energy Services had a negative net margin of 2.21% and a negative return on equity of 6.25%. On average, equities research analysts anticipate that Source Energy Services Ltd. will post 3.2287234 earnings per share for the current year.

Insider Buying and Selling at Source Energy Services

In related news, insider Catherine Victoria Reynolds sold 4,500 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of C$14.72, for a total value of C$66,240.00. Following the completion of the transaction, the insider directly owned 28,283 shares of the company’s stock, valued at approximately C$416,325.76. This trade represents a 13.73% decrease in their ownership of the stock. Corporate insiders own 11.09% of the company’s stock.

About Source Energy Services

Source Energy Services Ltd is a Canada based company engaged in the production, supply, and distribution of Northern White frac sand, as well as the distribution of other bulk completion materials not produced by the company. It provides customers with an end-to-end solution for frac sand supported by its Wisconsin mines and processing facilities, its Western Canadian terminal network and its last mile logistics capabilities. The company also offers storage and logistics services for other bulk oil and gas well completion materials and has developed Sahara, a proprietary wellsite mobile sand storage and handling system.