ACT Energy Technologies (TSE:ACX) Posts Quarterly Earnings Results

ACT Energy Technologies (TSE:ACX) posted its quarterly earnings data on Friday. The company reported C$0.36 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$219.03 million for the quarter.

ACT Energy Technologies Stock Performance

Shares of ACX stock traded down C$0.24 on Friday, reaching C$7.09. The stock had a trading volume of 280,757 shares, compared to its average volume of 124,439. ACT Energy Technologies has a 1 year low of C$4.74 and a 1 year high of C$9.47. The stock has a market cap of C$273.92 million, a P/E ratio of 10.13 and a beta of 0.14. The company has a 50 day simple moving average of C$8.05 and a 200 day simple moving average of C$6.86.

Analysts Set New Price Targets

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

ACT Energy Technologies Company Profile

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.