Calfrac Well Services (TSE:CFW) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Calfrac shares crossed above their 200-day moving average (200‑day MA C$4.52), trading as high as C$5.39 and last at C$5.32 on volume of 53,405 shares.
• Analysts have recently upgraded targets—ATB Cormark moved to a "moderate buy" (C$7.00) and RBC raised its target to C$7.50—leaving a consensus rating of "Moderate Buy" with a consensus price target of C$7.25.
• An insider sold 20,000 shares at C$6.64 (reducing his position by ~96.7%), while insiders collectively own 46.88% of the company.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$4.52 and traded as high as C$5.39. Calfrac Well Services shares last traded at C$5.32, with a volume of 53,405 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on CFW shares. ATB Cormark Capital Markets upgraded shares of Calfrac Well Services from a "hold" rating to a "moderate buy" rating and boosted their target price for the company from C$5.25 to C$7.00 in a research note on Friday, March 20th. Royal Bank Of Canada boosted their target price on shares of Calfrac Well Services from C$7.00 to C$7.50 and gave the company a "sector perform" rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$7.25.

Calfrac Well Services Stock Up 2.1%

The company has a market capitalization of C$534.04 million, a PE ratio of 15.65, a PEG 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. The stock's 50 day moving average is C$5.79 and its 200 day moving average is C$4.52.

Calfrac Well Services (TSE:CFW - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported C$0.06 EPS for the quarter. The company had revenue of C$292.18 million for the quarter. Calfrac Well Services had a net margin of 2.18% and a return on equity of 4.57%. On average, sell-side analysts anticipate that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal 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 transaction of C$132,800.00. Following the sale, the insider directly owned 683 shares in the company, valued at approximately C$4,535.12. This represents a 96.70% decrease in their position. 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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