ATB Cormark Capital Markets Increases ACT Energy Technologies (TSE:ACX) Price Target to C$9.50

ACT Energy Technologies (TSE:ACX) had its price objective lifted by equities research analysts at ATB Cormark Capital Markets from C$9.25 to C$9.50 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would indicate a potential upside of 57.55% from the company’s previous close.

ACT Energy Technologies Stock Performance

Shares of TSE ACX traded down C$0.02 during mid-day trading on Friday, hitting C$6.03. The stock had a trading volume of 14,100 shares, compared to its average volume of 92,010. The firm has a market cap of C$232.44 million, a PE ratio of 16.75 and a beta of 0.18. The company has a 50 day moving average of C$6.51 and a two-hundred day moving average of C$6.28. ACT Energy Technologies has a twelve month low of C$4.42 and a twelve month high of C$7.74.

ACT Energy Technologies (TSE:ACX) last posted its quarterly earnings results on Wednesday, March 25th. The company reported C$0.08 earnings per share for the quarter. The firm had revenue of C$109.30 million for the quarter.

About ACT Energy Technologies

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.