The stock of Secure Energy Services Inc (TSE:SES) gapped up by $0.08 today and has $13.90 target or 63.00% above today’s $8.53 share price. The 6 months technical chart setup indicates low risk for the $1.31 billion company. The gap was reported on Nov, 4 by Barchart.com. If the $13.90 price target is reached, the company will be worth $825.30 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 963,797 shares traded hands or 71.71% up from the average. Secure Energy Services Inc (TSE:SES) has declined 4.36% since March 31, 2016 and is downtrending. It has underperformed by 5.45% the S&P500.
Secure Energy Services Inc (TSE:SES) Ratings Coverage
Out of 6 analysts covering Secure Energy Services Inc. (TSE:SES), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $21 is the highest target while $9 is the lowest. The $13.11 average target is 53.69% above today’s ($8.53) stock price. Secure Energy Services Inc. has been the topic of 23 analyst reports since July 21, 2015 according to StockzIntelligence Inc. On Tuesday, November 17 the stock rating was maintained by RBC Capital Markets with “Outperform”. Cormark Securities maintained Secure Energy Services Inc (TSE:SES) on Friday, September 9 with “Buy” rating. On Friday, October 7 the stock rating was downgraded by Raymond James to “Outperform”.
More notable recent Secure Energy Services Inc (TSE:SES) news were published by: Marketwatch.com which released: “SECURE Energy Services Announces November 2016 Dividend” on October 17, 2016, also Forbes.com with their article: “Secure Energy Services Becomes Oversold (SES)” published on June 15, 2015, Marketwired.com published: “SECURE Energy Services Inc. Announces $91.8 Million Bought Deal Financing” on March 02, 2016. More interesting news about Secure Energy Services Inc (TSE:SES) were released by: Marketwired.com and their article: “Secure Energy Services Inc. Announces $140 Million Bought Deal Equity Financing” published on March 04, 2015 as well as Marketwired.com‘s news article titled: “Secure Energy Services Inc. Announces Strategic Acquisition of Predator …” with publication date: August 12, 2014.
Secure Energy Services Inc. is an energy services company. The company has a market cap of $1.31 billion. It owns and operates midstream infrastructure and provides environmental services and products to upstream oil and natural gas companies operating in Western Canada and certain regions in the United States. It currently has negative earnings. It operates through three divisions.
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