Source Energy Services (SHLE) Shares Down 10.1%

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Source Energy Services Ltd (TSE:SHLE) dropped 10.1% on Thursday . The stock traded as low as C$2.07 and last traded at C$2.13. Approximately 222,614 shares traded hands during trading, an increase of 186% from the average daily volume of 77,790 shares. The stock had previously closed at C$2.37.

SHLE has been the subject of several analyst reports. Industrial Alliance Securities dropped their target price on shares of Source Energy Services from C$8.50 to C$5.75 in a research report on Tuesday, October 9th. Canaccord Genuity dropped their price objective on shares of Source Energy Services from C$6.00 to C$4.50 in a report on Tuesday, October 16th. Morgan Stanley dropped their price objective on shares of Source Energy Services from C$7.50 to C$6.50 in a report on Wednesday, September 19th. TD Securities raised their price objective on shares of Source Energy Services from C$7.00 to C$7.50 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, GMP Securities downgraded shares of Source Energy Services from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$7.00 to C$5.00 in a report on Tuesday, October 9th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$7.33.

Source Energy Services Company Profile (TSE:SHLE)

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand primarily to the Western Canadian Sedimentary Basin. The company was founded in 2017 and is headquartered in Calgary, Canada.

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