Calfrac Well Services Ltd. (OTCMKTS:CFWFF – Get Rating) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 5,500 shares, a decline of 26.7% from the March 31st total of 7,500 shares. Based on an average daily volume of 3,200 shares, the days-to-cover ratio is presently 1.7 days.
A number of analysts have recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Calfrac Well Services from C$5.50 to C$5.00 in a report on Thursday, March 17th. Royal Bank of Canada reduced their target price on shares of Calfrac Well Services from C$6.50 to C$6.00 in a report on Thursday, March 17th. Finally, Raymond James downgraded shares of Calfrac Well Services from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 18th.
Shares of OTCMKTS:CFWFF opened at $3.93 on Monday. Calfrac Well Services has a 12 month low of $2.17 and a 12 month high of $5.13. The firm’s 50-day moving average is $3.84 and its 200 day moving average is $3.98.
Calfrac Well Services Ltd., together with its subsidiaries, provides specialized oilfield services in Canada, the United States, and Argentina. It offers hydraulic fracturing, coiled tubing, cementing, and other well stimulation services, as well as pressure pumping services to oil and natural gas industries.
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