Calfrac Well Services (TSE:CFW) Shares Down 11.6% – Time to Sell?

Calfrac Well Services Ltd. (TSE:CFW)’s share price was down 11.6% during trading on Wednesday. The stock traded as low as C$6.30 and last traded at C$6.45. Approximately 301,157 shares were traded during trading, an increase of 149% from the average session volume of 121,041 shares. The stock had previously closed at C$7.30.

Analysts Set New Price Targets

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

Calfrac Well Services Trading Down 10.8%

The company has a debt-to-equity ratio of 20.48, a quick ratio of 1.33 and a current ratio of 1.52. The stock has a market capitalization of C$657.14 million, a PE ratio of 10.67, a PEG ratio of -0.30 and a beta of -0.42. The stock has a 50-day moving average price of C$7.01 and a two-hundred day moving average price of C$6.28.

Insider Activity

In related news, Director Charles Pellerin sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of C$7.00, for a total transaction of C$700,000.00. Following the sale, the director owned 5,814,123 shares of the company’s stock, valued at C$40,698,861. This represents a 1.69% decrease in their ownership of the stock. Over the last 90 days, insiders sold 408,600 shares of company stock worth $2,860,286. 46.88% of the stock is owned by corporate insiders.

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.