ACT Energy Technologies (TSE:ACX) Reaches New 1-Year High – Time to Buy?

Shares of ACT Energy Technologies Ltd. (TSE:ACX) reached a new 52-week high during trading on Wednesday. The company traded as high as C$9.33 and last traded at C$9.26, with a volume of 168,420 shares changing hands. The stock had previously closed at C$9.12.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets increased their price target on shares of ACT Energy Technologies from C$9.25 to C$9.50 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$9.67.

ACT Energy Technologies Stock Performance

The company has a market cap of C$364.33 million, a P/E ratio of 13.47 and a beta of 0.19. The firm has a 50 day moving average price of C$7.92 and a 200-day moving average price of C$6.77.

ACT Energy Technologies (TSE:ACX) last announced its earnings results on Friday, August 7th. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$178.47 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.