Calfrac Well Services (TSE:CFW) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Calfrac Well Services Ltd. (TSE:CFW) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$5.60 and traded as high as C$6.44. Calfrac Well Services shares last traded at C$6.34, with a volume of 48,017 shares traded.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CFW shares. Royal Bank Of Canada boosted their price target on shares of Calfrac Well Services from C$7.50 to C$8.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lifted their price objective on shares of Calfrac Well Services from C$7.25 to C$7.50 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$7.75.

Calfrac Well Services Stock Performance

The company’s fifty day simple moving average is C$6.15 and its 200 day simple moving average is C$5.60. The stock has a market capitalization of C$636.99 million, a P/E ratio of 13.78, a P/E/G ratio of -0.30 and a beta of -0.37. The company has a current ratio of 1.48, a quick ratio of 1.33 and a debt-to-equity ratio of 25.17.

Calfrac Well Services (TSE:CFW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.19 earnings per share for the quarter. Calfrac Well Services had a net margin of 3.29% and a return on equity of 6.49%. The firm had revenue of C$305.37 million for the quarter. As a group, sell-side analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current fiscal year.

Insider Buying and Selling at Calfrac Well Services

In other Calfrac Well Services news, insider Tyler Dahlseide purchased 9,250 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average price of C$5.83 per share, for a total transaction of C$53,927.50. Following the transaction, the insider owned 79,774 shares in the company, valued at C$465,082.42. The trade was a 13.12% increase in their position. Also, insider Sime Armoyan sold 15,429,212 shares of Calfrac Well Services stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$6.50, for a total value of C$100,289,878.00. Following the sale, the insider owned 20,084,000 shares of the company’s stock, valued at approximately C$130,546,000. This trade represents a 43.45% decrease in their position. Over the last 90 days, insiders bought 30,997 shares of company stock valued at $186,495 and sold 20,456,098 shares valued at $134,044,544. Corporate insiders own 46.88% of the company’s stock.

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.