The stock of Calfrac Well Services Ltd (TSE:CFW) gapped up by $0.03 today and has $9.64 target or 192.00% above today’s $3.30 share price. The 9 months technical chart setup indicates low risk for the $387.54M company. The gap was reported on Oct, 19 by Barchart.com. If the $9.64 price target is reached, the company will be worth $744.08M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 322,643 shares traded hands. Calfrac Well Services Ltd (TSE:CFW) has risen 90.36% since March 14, 2016 and is uptrending. It has outperformed by 84.82% the S&P500.
Calfrac Well Services Ltd (TSE:CFW) Ratings Coverage
Out of 9 analysts covering Calfrac Well Services Ltd. (TSE:CFW), 1 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 11% are positive. Calfrac Well Services Ltd. has been the topic of 48 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Scotia Capital upgraded the shares of CFW in a report on Tuesday, July 21 to “Sector Perform” rating. The firm earned “Sector Performer” rating on Tuesday, February 9 by IBC. The firm has “Sell” rating given on Thursday, February 25 by Paradigm Research. RBC Capital Markets maintained Calfrac Well Services Ltd (TSE:CFW) on Friday, April 29 with “Sector Perform” rating. TD Securities downgraded the shares of CFW in a report on Wednesday, January 6 to “Hold” rating. The firm has “Neutral” rating given on Tuesday, January 12 by Simmons & Co. JP Morgan maintained the shares of CFW in a report on Wednesday, August 26 with “Neutral” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Monday, October 5. Scotia Capital maintained the stock with “Underperform” rating in Friday, July 29 report. Cowen & Co downgraded the shares of CFW in a report on Thursday, October 15 to “Market Perform” rating.
Another recent and important Calfrac Well Services Ltd (TSE:CFW) news was published by Business.Financialpost.com which published an article titled: “Why tough times for frackers could be the best time for Calgary’s Calfrac Well …” on July 29, 2015.
Calfrac Well Services Ltd. is a provider of specialized oilfield services. The company has a market cap of $387.54 million. The Firm operates through four geographical divisions: Canada, the United States, Russia and Latin America. It currently has negative earnings. The Company’s services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services.
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