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

Calfrac Well Services Ltd. (TSE:CFW) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$3.83 and traded as high as C$5.83. Calfrac Well Services shares last traded at C$5.76, with a volume of 127,514 shares trading hands.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets raised their price target on shares of Calfrac Well Services from C$4.25 to C$5.25 and gave the stock a “sector perform” rating in a research note on Monday, January 19th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of C$4.50.

Calfrac Well Services Stock Up 1.1%

The firm has a market cap of C$569.67 million, a price-to-earnings ratio of 24.49, a PEG ratio of -0.30 and a beta of 0.34. The business’s 50-day moving average is C$4.79 and its 200-day moving average is C$3.83. The company has a debt-to-equity ratio of 57.80, a quick ratio of 1.33 and a current ratio of 2.23.

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.