Calfrac Well Services (TSE:CFW) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Calfrac Well Services' stock crossed above its 200-day moving average
• Analysts have become more positive — ATB Cormark upgraded to "moderate buy" (PT C$7.00) and RBC raised its target to C$7.50, leaving an average rating of Moderate Buy and an average price target of C$7.25.
• Insider Mark Ryan Ellingson sold 20,000 shares at an average price of C$6.64 (reducing his holdings to 683 shares), while insiders collectively still own 46.88% of the company.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$4.60 and traded as high as C$5.70. Calfrac Well Services shares last traded at C$5.52, with a volume of 21,783 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CFW shares. ATB Cormark Capital Markets upgraded Calfrac Well Services from a "hold" rating to a "moderate buy" rating and lifted their price target for the company from C$5.25 to C$7.00 in a research report on Friday, March 20th. Royal Bank Of Canada raised their target price on Calfrac Well Services from C$7.00 to C$7.50 and gave the stock a "sector perform" rating in a research note on Tuesday, April 14th. 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, Calfrac Well Services currently has an average rating of "Moderate Buy" and an average price target of C$7.25.

Calfrac Well Services Price Performance

The business's 50-day moving average price is C$5.79 and its 200 day moving average price is C$4.60. The stock has a market capitalization of C$554.11 million, a PE ratio of 16.24, a price-to-earnings-growth ratio of -0.30 and a beta of -0.25. The company has a debt-to-equity ratio of 33.41, a quick ratio of 1.33 and a current ratio of 1.77.

Calfrac Well Services (TSE:CFW - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The company reported C$0.06 earnings per share (EPS) for the quarter. Calfrac Well Services had a return on equity of 4.57% and a net margin of 2.18%.The company had revenue of C$292.18 million for the quarter. Research analysts forecast that Calfrac Well Services Ltd. will post 0.3798828 earnings per share for the current year.

Insider Activity at Calfrac Well Services

In related news, insider Mark Ryan Ellingson sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of C$6.64, for a total value of C$132,800.00. Following the transaction, the insider directly owned 683 shares in the company, valued at approximately C$4,535.12. This represents a 96.70% decrease in their ownership of the stock. 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.

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