The stock of Secure Energy Services Inc (TSE:SES) gapped down by $0.07 today and has $7.93 target or 7.00% below today’s $8.53 share price. The 5 months technical chart setup indicates high risk for the $1.38B company. The gap down was reported on Nov, 29 by Barchart.com. If the $7.93 price target is reached, the company will be worth $96.60 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 98,753 shares traded hands. Secure Energy Services Inc (TSE:SES) has declined 6.16% since April 25, 2016 and is downtrending. It has underperformed by 11.42% the S&P500.
Secure Energy Services Inc (TSE:SES) Ratings Coverage
Out of 7 analysts covering Secure Energy Services Inc. (TSE:SES), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $21 is the highest target while $9 is the lowest. The $12 average target is 40.68% above today’s ($8.53) stock price. Secure Energy Services Inc. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Raymond James downgraded the stock to “Outperform” rating in Friday, October 7 report. Cormark Securities maintained Secure Energy Services Inc (TSE:SES) on Friday, September 9 with “Buy” rating. The company was maintained on Friday, November 4 by TD Securities. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, November 17 report. The firm has “Sector Perform” rating by Scotia Capital given on Friday, November 4.
More recent Secure Energy Services Inc (TSE:SES) news were published by: Forbes.com which released: “Secure Energy Services Becomes Oversold (SES)” on June 15, 2015. Also Marketwired.com published the news titled: “SECURE Energy Services Inc. Announces $91.8 Million Bought Deal Financing” on March 02, 2016. Marketwired.com‘s news article titled: “Secure Energy Services Inc. Announces Strategic Acquisition of Predator …” with publication date: August 12, 2014 was also an interesting one.
Secure Energy Services Inc. is an energy services company. The company has a market cap of $1.38 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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