Source Energy Services Ltd (TSE:SHLE) shares traded down 2.2% during trading on Monday . The company traded as low as C$6.66 and last traded at C$6.73. 19,228 shares were traded during mid-day trading, a decline of 63% from the average session volume of 52,433 shares. The stock had previously closed at C$6.88.

A number of research firms have recently weighed in on SHLE. CIBC reiterated an “outperform” rating and set a C$13.50 target price on shares of Source Energy Services in a research report on Wednesday, November 8th. Canaccord Genuity cut their target price on Source Energy Services from C$12.50 to C$11.50 in a research report on Tuesday, February 6th. Morgan Stanley upped their target price on Source Energy Services from C$12.00 to C$13.00 in a research report on Wednesday, November 15th. Finally, Scotiabank reiterated an “outperform” rating and set a C$17.50 target price on shares of Source Energy Services in a research report on Tuesday, November 14th. Six investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus target price of C$13.58.

The firm has a market cap of $400.09 and a PE ratio of -18.57.

In related news, Director James Mcmahon sold 3,200 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of C$9.35, for a total transaction of C$29,920.00. Over the last 90 days, insiders have sold 219,464 shares of company stock valued at $2,015,241.

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Source Energy Services Company Profile

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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