The stock of Secure Energy Services Inc (TSE:SES) gapped up by $0.1 today and has $10.60 target or 3.00% above today’s $10.29 share price. The 8 months technical chart setup indicates low risk for the $1.85B company. The gap was reported on Dec, 1 by Barchart.com. If the $10.60 price target is reached, the company will be worth $55.50 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 1.27M shares traded hands or 152.75% up from the average. Secure Energy Services Inc (TSE:SES) has risen 5.89% since April 27, 2016 and is uptrending. It has underperformed by 0.04% 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. Secure Energy Services Inc. has been the topic of 25 analyst reports since July 21, 2015 according to StockzIntelligence Inc. As per Tuesday, November 17, the company rating was maintained by RBC Capital Markets. Cormark Securities maintained the shares of SES in a report on Friday, September 9 with “Buy” rating. Scotia Capital maintained the shares of SES in a report on Friday, November 4 with “Sector Perform” rating. Raymond James downgraded Secure Energy Services Inc (TSE:SES) on Friday, October 7 to “Outperform” rating. TD Securities maintained it with “Buy” rating and $12 target price in Friday, November 4 report.
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 $1.85 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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