Trican Well Service Ltd. (OTCMKTS:TOLWF) Sees Significant Growth in Short Interest

Trican Well Service Ltd. (OTCMKTS:TOLWF) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 3,562,994 shares, a growth of 218.0% from the April 15th total of 1,120,450 shares. Based on an average trading volume of 91,919 shares, the short-interest ratio is presently 38.8 days.

Trican Well Service Stock Performance

TOLWF stock opened at $5.73 on Friday. The company has a 50 day moving average price of $5.19 and a 200 day moving average price of $4.73. Trican Well Service has a fifty-two week low of $3.08 and a fifty-two week high of $5.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on TOLWF shares. BMO Capital Markets upgraded shares of Trican Well Service from a “market perform” rating to an “outperform” rating in a research note on Tuesday. TD Securities restated a “hold” rating on shares of Trican Well Service in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Trican Well Service in a report on Wednesday. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

About Trican Well Service

Trican Well Service Ltd. is a Canada-based oilfield services company specializing in well completion and intervention solutions for the global energy sector. The company’s core offerings include hydraulic fracturing (fracing), coiled tubing, cementing, acidizing, nitrogen services and well stimulation technologies. Trican’s hydraulic fracturing operations are supported by a fleet of high-pressure pumping equipment designed to meet the demands of unconventional resource plays.

In addition to its pressure-pumping capabilities, Trican provides coiled tubing services for well cleanouts, stimulations and underbalanced operations, as well as cementing services that ensure zonal isolation and well integrity.