Western Energy Services (TSE:WRG) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Western Energy Services Corp. (TSE:WRG) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$2.58 and traded as low as C$2.20. Western Energy Services shares last traded at C$2.24, with a volume of 1,900 shares trading hands.

Analyst Ratings Changes

Several equities analysts have recently commented on WRG shares. Atb Cap Markets upgraded shares of Western Energy Services to a “hold” rating in a research report on Wednesday, January 15th. ATB Capital set a C$3.25 price objective on shares of Western Energy Services and gave the company a “sector perform” rating in a research note on Wednesday, January 15th.

Western Energy Services Trading Down 1.4 %

The business has a fifty day simple moving average of C$2.34 and a 200-day simple moving average of C$2.58. The company has a debt-to-equity ratio of 37.49, a quick ratio of 1.46 and a current ratio of 1.82. The firm has a market cap of C$73.43 million, a price-to-earnings ratio of -10.33, a PEG ratio of 0.09 and a beta of 1.49.

Insider Transactions at Western Energy Services

In related news, insider Sime Armoyan acquired 75,700 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of C$2.10 per share, with a total value of C$158,970.00. Insiders bought a total of 167,600 shares of company stock worth $377,925 over the last three months. 32.65% of the stock is owned by company insiders.

Western Energy Services Company Profile

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.