Calfrac Well Services (TSE:CFW) Stock Passes Above 200 Day Moving Average – Here’s Why

Calfrac Well Services Ltd. (TSE:CFW)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$4.67 and traded as high as C$5.27. Calfrac Well Services shares last traded at C$5.18, with a volume of 41,814 shares.

Analyst Upgrades and Downgrades

CFW has been the topic of several research reports. Royal Bank Of Canada boosted their price target on Calfrac Well Services from C$7.00 to C$7.50 and gave the stock a “sector perform” rating in a report on Tuesday, April 14th. ATB Cormark Capital Markets upgraded Calfrac Well Services from a “hold” rating to a “moderate buy” rating and boosted their price target for the stock from C$5.25 to C$7.00 in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$7.25.

Calfrac Well Services Price Performance

The company has a fifty day moving average of C$5.76 and a 200 day moving average of C$4.67. The firm has a market capitalization of C$534.04 million, a P/E ratio of 15.65, a PEG ratio of -0.30 and a beta of -0.21. The company has a debt-to-equity ratio of 33.41, a current ratio of 1.77 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW) last announced its earnings results on Thursday, March 19th. The company reported C$0.06 EPS for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%.The business had revenue of C$292.18 million for the quarter. Sell-side analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Ryan Ellingson sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of C$6.64, for a total value of C$132,800.00. Following the sale, the insider directly owned 683 shares in the company, valued at C$4,535.12. This represents a 96.70% decrease in their ownership of the stock. 46.88% of the stock is owned by insiders.

Calfrac Well Services Company Profile

Calfrac Well Services Ltd provides specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and other well completion services to the oil and natural gas industries in Canada, the United States, Russia, and Argentina. It generates maximum revenue from the United States.