Calfrac Well Services (TSE:CFW) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Calfrac Well Services Ltd. (TSE:CFW) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of C$7.00 and traded as high as C$7.02. Calfrac Well Services shares last traded at C$7.02, with a volume of 113,371 shares.

Analyst Upgrades and Downgrades

Separately, ATB Cormark Capital Markets raised shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and boosted their target price for the company from C$7.50 to C$9.00 in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$8.50.

Calfrac Well Services Trading Up 4.6%

The firm has a market cap of C$708.62 million, a price-to-earnings ratio of 11.51, a price-to-earnings-growth ratio of -0.30 and a beta of -0.42. The business has a 50 day moving average of C$7.00 and a 200 day moving average of C$6.26. The company has a quick ratio of 1.33, a current ratio of 1.52 and a debt-to-equity ratio of 20.48.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Calfrac Well Services had a net margin of 4.49% and a return on equity of 8.75%. The firm had revenue of C$426.69 million for the quarter. On average, research analysts forecast that Calfrac Well Services Ltd. will post 0.38 earnings per share for the current fiscal year.

Insider Activity at Calfrac Well Services

In related news, Director Charles Pellerin sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$7.00, for a total transaction of C$700,000.00. Following the sale, the director owned 5,814,123 shares of the company’s stock, valued at C$40,698,861. This represents a 1.69% decrease in their ownership of the stock. Also, insider Jeffrey Irwin Ellis sold 13,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of C$6.75, for a total transaction of C$87,750.00. Following the completion of the transaction, the insider directly owned 15,489 shares of the company’s stock, valued at C$104,550.75. This trade represents a 45.63% decrease in their position. In the last three months, insiders sold 705,600 shares of company stock valued at $5,021,236. 46.88% of the stock is owned by insiders.

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.