The stock of Secure Energy Services Inc (TSE:SES) gapped up by $0.36 today and has $9.65 target or 3.00% above today’s $9.37 share price. The 9 months technical chart setup indicates low risk for the $1.47 billion company. The gap was reported on Nov, 30 by Barchart.com. If the $9.65 price target is reached, the company will be worth $44.10M 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 521,611 shares traded hands or 14.87% up from the average. Secure Energy Services Inc (TSE:SES) has declined 7.80% since April 26, 2016 and is downtrending. It has underperformed by 13.03% 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 28.07% above today’s ($9.37) stock price. Secure Energy Services Inc. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Cormark Securities given on Friday, September 9. The stock of Secure Energy Services Inc (TSE:SES) has “Outperform” rating given on Tuesday, November 17 by RBC Capital Markets. Raymond James downgraded Secure Energy Services Inc (TSE:SES) on Friday, October 7 to “Outperform” rating. The stock has “Sector Perform” rating given by Scotia Capital on Friday, November 4. The firm has “Buy” rating by TD Securities given on Friday, November 4.
More important 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 article titled: “SECURE Energy Services Inc. Announces $91.8 Million Bought Deal Financing”, Marketwired.com published: “Secure Energy Services Inc. Announces Strategic Acquisition of Predator …” on August 12, 2014. More interesting news about Secure Energy Services Inc (TSE:SES) was released by: Business.Financialpost.com and their article: “More upside for oil waste processor Secure Energy Services: Raymond James” with publication date: July 14, 2016.
Secure Energy Services Inc. is an energy services company. The company has a market cap of $1.47 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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