Western Energy Services (TSE:WRG) Stock Passes Above 50 Day Moving Average – Should You Sell?

Western Energy Services Corp. (TSE:WRG) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$2.26 and traded as high as C$2.55. Western Energy Services shares last traded at C$2.55, with a volume of 2,269 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets lowered their target price on Western Energy Services from C$2.75 to C$2.50 and set a “sector perform” rating for the company in a report on Friday, December 19th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Western Energy Services currently has an average rating of “Hold” and an average price target of C$2.50.

Western Energy Services Stock Up 1.6%

The company has a current ratio of 1.82, a quick ratio of 1.46 and a debt-to-equity ratio of 37.49. The company has a market capitalization of C$86.30 million, a P/E ratio of -13.42, a PEG ratio of 0.09 and a beta of 0.52. The firm’s 50 day moving average price is C$2.26 and its two-hundred day moving average price is C$2.15.

About Western Energy Services

Western Energy Services Corp operates as an oilfield service industry in Canada and the United States of America. The company functions its drilling services through two segments namely, Contract drilling and Production services. Its contract drilling segment is involved in drilling rigs with ancillary equipment as well as provides such services to crude oil and natural gas exploration and production companies. The production service segment includes well servicing rigs and related equipment, and oilfield rental equipment.