ACT Energy Technologies (TSE:ACX) Reaches New 1-Year High – Still a Buy?

ACT Energy Technologies Ltd. (TSE:ACX)’s share price hit a new 52-week high during mid-day trading on Friday. The stock traded as high as C$8.22 and last traded at C$8.20, with a volume of 208669 shares. The stock had previously closed at C$7.92.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets boosted their price target on shares of ACT Energy Technologies from C$9.25 to C$9.50 and gave the company an “outperform” rating in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, ACT Energy Technologies presently has an average rating of “Buy” and a consensus target price of C$9.67.

ACT Energy Technologies Trading Up 3.4%

The business’s 50-day moving average price is C$7.23 and its 200-day moving average price is C$6.75. The stock has a market cap of C$316.42 million, a PE ratio of 11.70 and a beta of 0.19.

ACT Energy Technologies (TSE:ACX) last posted its earnings results on Friday, August 7th. The company reported C$0.06 EPS for the quarter. The firm had revenue of C$178.47 million for the quarter.

ACT Energy Technologies Company Profile

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.