Calfrac Well Services (TSE:CFW) Shares Cross Above 200 Day Moving Average – Should You Sell?

Calfrac Well Services Ltd. (TSE:CFW) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$4.00 and traded as high as C$4.17. Calfrac Well Services shares last traded at C$3.85, with a volume of 122,203 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on CFW shares. Atb Cap Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. ATB Capital upgraded Calfrac Well Services from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from C$4.50 to C$5.50 in a research report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Calfrac Well Services has an average rating of “Moderate Buy” and a consensus target price of C$5.00.

Calfrac Well Services Trading Up 1.3 %

The business’s 50 day simple moving average is C$3.88 and its 200-day simple moving average is C$4.00. The company has a debt-to-equity ratio of 58.76, a current ratio of 2.31 and a quick ratio of 1.33. The stock has a market capitalization of C$330.33 million, a P/E ratio of 1.72, a PEG ratio of -0.30 and a beta of 1.65.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.19 by C($0.27). The company had revenue of C$430.11 million during the quarter, compared to the consensus estimate of C$400.60 million. Calfrac Well Services had a return on equity of 22.89% and a net margin of 7.23%. As a group, analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current year.

Insiders Place Their Bets

In related news, Director Charles Pellerin bought 41,411 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of C$3.65 per share, with a total value of C$151,150.15. Corporate insiders own 46.88% of the company’s stock.

About Calfrac Well Services

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.