Ensign Energy Services Inc. (OTCMKTS:ESVIF – Get Rating) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 210,900 shares, an increase of 106.4% from the July 31st total of 102,200 shares. Based on an average daily volume of 1,800 shares, the short-interest ratio is presently 117.2 days.

Ensign Energy Services Stock Performance

Shares of OTCMKTS ESVIF traded down $0.08 during trading hours on Friday, hitting $2.39. 112 shares of the company traded hands, compared to its average volume of 19,239. The company's 50 day moving average price is $2.43 and its 200 day moving average price is $2.73. Ensign Energy Services has a 12 month low of $1.12 and a 12 month high of $3.90.

Wall Street Analysts Forecast Growth

ESVIF has been the topic of a number of research reports. Stifel Nicolaus lifted their price objective on Ensign Energy Services from C$5.50 to C$5.75 in a research note on Tuesday, May 10th. Canaccord Genuity Group reduced their price objective on Ensign Energy Services from C$5.25 to C$3.75 in a research note on Friday, August 19th. Royal Bank of Canada lifted their price objective on Ensign Energy Services from C$6.00 to C$6.50 in a research note on Tuesday, May 10th. Finally, TD Securities lifted their price objective on Ensign Energy Services from C$6.00 to C$6.50 in a research note on Tuesday, May 10th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.87.

About Ensign Energy Services

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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