Calfrac Well Services (TSE:CFW) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Calfrac Well Services Ltd. (TSE:CFW) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$3.90 and traded as high as C$3.90. Calfrac Well Services shares last traded at C$3.87, with a volume of 134,300 shares trading hands.

Analysts Set New Price Targets

CFW has been the subject of a number of recent research reports. ATB Capital upgraded Calfrac Well Services from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. Atb Cap Markets upgraded Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.00.

Calfrac Well Services Trading Down 0.5 %

The company has a debt-to-equity ratio of 57.80, a quick ratio of 1.33 and a current ratio of 2.23. The company has a 50 day moving average of C$3.85 and a two-hundred day moving average of C$3.90. The stock has a market cap of C$331.55 million, a PE ratio of 11.82, a price-to-earnings-growth ratio of -0.30 and a beta of 1.65.

Insiders Place Their Bets

In other news, Director Charles Pellerin acquired 142,700 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was bought at an average cost of C$3.85 per share, for a total transaction of C$549,395.00. 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.