Is Buying 52-Week Stock Like High Arctic Energy Services, Inc. a Winning Strategy?

 Is Buying 52 Week Stock Like High Arctic Energy Services, Inc. a Winning Strategy?

The stock of High Arctic Energy Services, Inc. (TSE:HWO) hit a new 52-week high and has $9.89 target or 107.00% above today’s $4.78 share price. The 9 months bullish chart indicates low risk for the $252.65 million company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $9.89 price target is reached, the company will be worth $270.34M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 90,120 shares traded hands. High Arctic Energy Services, Inc. (TSE:HWO) has risen 31.53% since April 5, 2016 and is uptrending. It has outperformed by 26.75% the S&P500.

More notable recent High Arctic Energy Services, Inc. (TSE:HWO) news were published by: Marketwired.com which released: “High Arctic Energy Services Inc. Announces Acquisition of Tervita Corporation …” on August 29, 2016, also Theglobeandmail.com with their article: “The Globe and Mail” published on August 10, 2009, Seekingalpha.com published: “High Arctic Energy Services – A Closer Look At The Best O&G Acquisition Of 2016” on September 19, 2016. More interesting news about High Arctic Energy Services, Inc. (TSE:HWO) were released by: Marketwired.com and their article: “High Arctic Energy Services Inc. Announces Closing of Acquisition of Tervita …” published on September 01, 2016 as well as Seekingalpha.com‘s news article titled: “High Arctic Energy Services Is The Best Value In The Canadian Oil Patch – Sort …” with publication date: June 25, 2015.

High Arctic Energy Services Inc. is a Canada company, which focuses on providing contract drilling, completion services, equipment rental and other oilfield services to the gas and oil industry. The company has a market cap of $252.65 million. The Firm operates through providing oilfield services to clients in Canada and Papua New Guinea segment. It has a 8.05 P/E ratio. In PNG, the product line consists of contract drilling services, workover services and equipment rental including rig mats, cranes and oilfield related equipment.

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