Source Energy Services Ltd (TSE:SHLE)’s share price dropped 6.2% on Wednesday . The stock traded as low as C$9.00 and last traded at C$9.10. Approximately 7,200 shares changed hands during trading, a decline of 81% from the average daily volume of 37,685 shares. The stock had previously closed at C$9.70.

Separately, Canaccord Genuity reaffirmed a “buy” rating and set a C$9.00 price target on shares of Source Energy Services in a research note on Wednesday, September 13th. Five equities research analysts have rated the stock with a buy rating, Source Energy Services presently has a consensus rating of “Buy” and a consensus price target of C$14.60.

The company’s 50 day moving average is $7.79 and its 200-day moving average is $8.44. The company’s market capitalization is $472.29 million.

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About Source Energy Services

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand primarily to the Western Canadian Sedimentary Basin. The Northern White frac sand is a preferred proppant used to enhance hydrocarbon recovery in the hydraulic fracturing of oil and natural gas wells. Source Energy Services Ltd.

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