Calfrac Well Services (TSE:CFW) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Calfrac Well Services Ltd. (TSE:CFW) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$3.96 and traded as high as C$4.07. Calfrac Well Services shares last traded at C$3.99, with a volume of 143,386 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. ATB Capital upgraded Calfrac Well Services from a “sector perform” rating to an “outperform” rating and upped their target price for the company from C$4.50 to C$5.50 in a report on Tuesday, December 10th. Atb Cap Markets raised shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$5.00.

Calfrac Well Services Stock Performance

The company has a 50 day moving average of C$3.88 and a two-hundred day moving average of C$3.96. 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 company has a market capitalization of C$342.34 million, a PE ratio of 1.78, a PEG ratio of -0.30 and a beta of 1.65.

Calfrac Well Services (TSE:CFW) last issued 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 business 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, equities research analysts predict that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Buying and Selling at Calfrac Well Services

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