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

Calfrac Well Services Ltd. (TSE:CFW)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$6.42 and traded as high as C$7.15. Calfrac Well Services shares last traded at C$7.06, with a volume of 83,860 shares traded.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets upgraded shares of Calfrac Well Services from a “hold” rating to a “moderate buy” rating and raised their target price for the stock from C$7.50 to C$9.00 in a report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$8.50.

Calfrac Well Services Stock Performance

The company has a market capitalization of C$712.66 million, a price-to-earnings ratio of 11.57, a P/E/G ratio of -0.30 and a beta of -0.32. The stock’s 50 day moving average price is C$6.92 and its 200 day moving average price is C$6.42. The company has a current ratio of 1.52, a quick ratio of 1.33 and a debt-to-equity ratio of 20.48.

Calfrac Well Services (TSE:CFW) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.32 earnings per share for the quarter. Calfrac Well Services had a return on equity of 8.75% and a net margin of 4.49%. The firm had revenue of C$426.69 million for the quarter. Analysts expect that Calfrac Well Services Ltd. will post 0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Sime Armoyan sold 284,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of C$7.30, for a total value of C$2,073,200.00. Following the completion of the sale, the insider directly owned 14,800,000 shares of the company’s stock, valued at C$108,040,000. This trade represents a 1.88% decrease in their ownership of the stock. Also, Director Charles Pellerin sold 200,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of C$7.00, for a total value of C$1,400,000.00. Following the sale, the director directly owned 6,022,723 shares of the company’s stock, valued at C$42,159,061. This represents a 3.21% decrease in their position. Over the last 90 days, insiders sold 705,600 shares of company stock worth $5,021,236. Company 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.