ACT Energy Technologies (TSE:ACX) Sets New 12-Month High – Still a Buy?

ACT Energy Technologies Ltd. (TSE:ACX) hit a new 52-week high during mid-day trading on Thursday. The company traded as high as C$8.77 and last traded at C$8.65, with a volume of 137,647 shares traded. The stock had previously closed at C$8.73.

Analyst Upgrades and Downgrades

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

ACT Energy Technologies Price Performance

The firm has a market cap of C$337.28 million, a P/E ratio of 12.47 and a beta of 0.19. The company’s 50-day simple moving average is C$7.65 and its 200 day simple moving average is C$6.84.

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