ClearStream Energy (TSX:CSM) Skyrockets Over 170% After Contract Deals

2 min read | February 26, 2021 11:26 AM EST | By Anuj

ClearStream Energy (TSX:CSM) Skyrockets Over 170% After Contract Deals

ClearStream Energy Services Inc. (TSX:CSM)

The firm provides construction facilities and maintenance services to the oil and gas industry across North America. The Alberta-based firm’s stock has yielded over 111 per cent in a year.

It registered a 52-week high of C$ 0.13 per common share and its more than 38 million shares traded on Thursday, February 25. The energy stock has around 110 million outstanding shares listed, with a 10-day average volume of 3.95 million.

Its return on equity has also improved and stood at 5.49 per cent. Shares of the energy firm are up more than 333 per cent this year.

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In the third quarter of 2020, the company posted revenues of C$ 100.8 million, a rise of 24.2 per cent or C$19.8 million quarter-over-quarter (QoQ).

It held a healthy liquidity position with total cash and cash equivalent of C$ 66.2 million at the end of Q3 2020, up against C$ 51.5 million in Q2 2020.

CSM Outlook

The company expects to be well-positioned for multiple services needed at various operating sites while maintaining efficiencies and lower expenses for its clients in the upcoming quarters. With new contracts, the company expects multiple-year high equity growth.

It also projected a recovery in the energy industry in the second quarter of 2021.

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