Ensign Energy Services Inc. (OTCMKTS:ESVIF – Get Rating) saw a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 54,100 shares, a decrease of 85.9% from the April 30th total of 382,400 shares. Based on an average daily trading volume, of 42,800 shares, the days-to-cover ratio is presently 1.3 days.
OTCMKTS ESVIF traded up $0.06 on Friday, reaching $3.81. 2,050 shares of the stock traded hands, compared to its average volume of 21,753. Ensign Energy Services has a 12 month low of $1.08 and a 12 month high of $3.84. The company has a fifty day moving average price of $3.13 and a 200-day moving average price of $2.18.
A number of research firms have weighed in on ESVIF. Raymond James raised shares of Ensign Energy Services from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 5th. Canaccord Genuity Group increased their target price on Ensign Energy Services from C$3.00 to C$4.50 and gave the stock a “hold” rating in a report on Friday, April 22nd. BMO Capital Markets upgraded Ensign Energy Services from a “market perform” rating to an “outperform” rating in a research note on Monday, March 7th. TD Securities lifted their target price on Ensign Energy Services from C$6.00 to C$6.50 in a research note on Tuesday, May 10th. Finally, Royal Bank of Canada lifted their target price on Ensign Energy Services from C$6.00 to C$6.50 in a report on Tuesday, May 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $4.53.
Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.
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