Calfrac Well Services (TSE:CFW) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Calfrac Well Services Ltd. (TSE:CFW)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$3.98 and traded as low as C$3.78. Calfrac Well Services shares last traded at C$3.80, with a volume of 54,996 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Atb Cap Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. ATB Capital upgraded shares of Calfrac Well Services from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$4.50 to C$5.50 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$5.00.

Calfrac Well Services Trading Down 1.0 %

The firm’s fifty day moving average price is C$3.87 and its 200-day moving average price is C$3.98. The company has a market cap of C$326.04 million, a price-to-earnings ratio of 1.70, a P/E/G ratio of -0.30 and a beta of 1.65. The company has a debt-to-equity ratio of 58.76, a current ratio of 2.31 and a quick ratio of 1.33.

Calfrac Well Services (TSE:CFW) last posted its earnings results on Wednesday, November 6th. The company reported C($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.19 by C($0.27). Calfrac Well Services had a net margin of 7.23% and a return on equity of 22.89%. The firm had revenue of C$430.11 million for the quarter, compared to analyst estimates of C$400.60 million. On average, equities analysts expect that Calfrac Well Services Ltd. will post 0.3798828 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles Pellerin acquired 41,411 shares of Calfrac Well Services stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average price of C$3.65 per share, with a total value of C$151,150.15. Corporate insiders own 46.88% of the company’s stock.

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.