Source Energy Services (TSE:SHLE) Shares Down 5% – Here’s What Happened

Shares of Source Energy Services Ltd. (TSE:SHLE) were down 5% during mid-day trading on Tuesday. The company traded as low as C$10.53 and last traded at C$10.53. Approximately 1,601 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 21,432 shares. The stock had previously closed at C$11.08.

Source Energy Services Trading Up 1.3%

The company has a current ratio of 1.22, a quick ratio of 0.22 and a debt-to-equity ratio of 144.16. The company has a 50-day moving average price of C$10.39 and a two-hundred day moving average price of C$13.68. The stock has a market cap of C$143.21 million, a P/E ratio of -11.59 and a beta of 2.08.

Source Energy Services (TSE:SHLE) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($0.43) earnings per share for the quarter. Source Energy Services had a negative return on equity of 6.25% and a negative net margin of 2.21%. The business had revenue of C$137.12 million during the quarter. On average, research analysts expect that Source Energy Services Ltd. will post 3.23 EPS for the current fiscal year.

Insider Activity at Source Energy Services

In other news, insider Catherine Victoria Reynolds sold 5,000 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of C$11.02, for a total transaction of C$55,100.00. Following the completion of the sale, the insider owned 23,785 shares of the company’s stock, valued at C$262,110.70. This represents a 17.37% decrease in their ownership of the stock. 11.09% of the stock is owned by corporate insiders.

Source Energy Services Company Profile

Source is a company that focuses on the integrated production and distribution of frac sand, as well as the distribution of other bulk completion materials not produced by Source. Source provides its customers with an end-to-end solution for frac sand supported by its Wisconsin and Peace River mines and processing facilities, its Western Canadian terminal network and its ‘last mile’ logistics capabilities, including its trucking operations, and Sahara, a proprietary well site mobile sand storage and handling system.