ACT Energy Technologies (TSE:ACX) Stock Jumps 2.3% – Here’s What Happened

ACT Energy Technologies Ltd. (TSE:ACX)’s share price traded up 2.3% on Tuesday. The company traded as high as C$7.71 and last traded at C$7.59. 77,379 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 111,806 shares. The stock had previously closed at C$7.42.

Analysts Set New Price Targets

Separately, ATB Cormark Capital Markets upped their target price on 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ACT Energy Technologies presently has a consensus rating of “Buy” and an average price target of C$9.67.

ACT Energy Technologies Price Performance

The stock’s fifty day simple moving average is C$6.86 and its 200-day simple moving average is C$6.71. The firm has a market cap of C$297.88 million, a PE ratio of 11.01 and a beta of 0.26.

ACT Energy Technologies (TSE:ACX) last announced its quarterly earnings data on Friday, August 7th. The company reported C$0.06 earnings per share for the quarter. The company 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.