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

Key Points

• Calfrac Well Services Ltd. shares have surpassed the 200-day moving average, indicating potential market interest, with the last trading price at C$3.75 after reaching a high of C$3.85.
• Royal Bank of Canada has reduced its target price for Calfrac from C$4.50 to C$3.75, while maintaining a "sector perform" rating on the stock.
• Insider buying activity was observed as Director Charles Pellerin purchased 472,000 shares at an average price of C$3.35, reflecting confidence in the company's future prospects.

Calfrac Well Services Ltd. (TSE:CFW - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$3.58 and traded as high as C$3.85. Calfrac Well Services shares last traded at C$3.75, with a volume of 6,080 shares trading hands.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada reduced their target price on shares of Calfrac Well Services from C$4.50 to C$3.75 and set a "sector perform" rating on the stock in a research note on Thursday, April 17th.

Calfrac Well Services Trading Down 2.3%

The firm has a market cap of C$321.27 million, a PE ratio of 11.46, a P/E/G ratio of -0.30 and a beta of 1.65. The company has a quick ratio of 1.33, a current ratio of 2.23 and a debt-to-equity ratio of 57.80. The company's 50 day moving average price is C$3.53 and its two-hundred day moving average price is C$3.58.

Insider Buying and Selling at Calfrac Well Services

In other news, Director Charles Pellerin bought 472,000 shares of Calfrac Well Services stock in a transaction dated Friday, June 27th. The shares were acquired at an average price of C$3.35 per share, with a total value of C$1,581,200.00. 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.

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