Aveda Transportation and Energy Svcs Inc (AVE) Given “Speculative Buy” Rating at Canaccord Genuity

Canaccord Genuity reissued their speculative buy rating on shares of Aveda Transportation and Energy Svcs Inc (CVE:AVE) in a report published on Wednesday morning. They currently have a C$0.85 target price on the stock.

Aveda Transportation and Energy Svcs (CVE:AVE) last announced its quarterly earnings results on Tuesday, May 16th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. Aveda Transportation and Energy Svcs had a negative net margin of 8.33% and a negative return on equity of 43.51%. The firm had revenue of $40.96 million for the quarter, compared to analysts’ expectations of $40.10 million.

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In related news, insider Bharat Mahajan bought 189,000 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was purchased at an average cost of C$0.53 per share, with a total value of C$100,170.00.

About Aveda Transportation and Energy Svcs

Aveda Transportation and Energy Services Inc is a Canada-based company engaged in the transportation of products, materials, and equipment required for the exploration, development and production of petroleum resources, including rig moving, heavy haul and hot shot services, and the rental of equipment associated with oilfields operations.

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