ACT Energy Technologies (TSE:ACX) Stock Price Down 1.7% – What’s Next?

ACT Energy Technologies Ltd. (TSE:ACX)’s stock price fell 1.7% during mid-day trading on Tuesday . The company traded as low as C$6.56 and last traded at C$6.77. 101,938 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 99,191 shares. The stock had previously closed at C$6.89.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ACX. Acumen Capital boosted their price objective on ACT Energy Technologies from C$7.50 to C$9.00 and gave the company a “buy” rating in a research note on Tuesday, March 10th. ATB Cormark Capital Markets boosted their price objective on ACT Energy Technologies from C$7.25 to C$8.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Finally, Raymond James Financial boosted their price objective on ACT Energy Technologies from C$9.50 to C$10.50 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$9.17.

ACT Energy Technologies Trading Down 1.7%

The stock’s 50-day moving average is C$6.69 and its 200-day moving average is C$6.16. The company has a market cap of C$226.53 million, a price-to-earnings ratio of 9.40 and a beta of 0.09.

ACT Energy Technologies (TSE:ACX) last released its earnings results on Wednesday, March 25th. The company reported C$0.08 earnings per share (EPS) for the quarter. The company had revenue of C$109.30 million for the quarter.

About ACT Energy Technologies

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.