CARBO Ceramics (NYSE:CRR) Stock Price Up 4.5%

CARBO Ceramics Inc. (NYSE:CRR)’s share price rose 4.5% on Thursday . The stock traded as high as $1.90 and last traded at $1.85, approximately 8,819 shares traded hands during trading. A decline of 98% from the average daily volume of 353,647 shares. The stock had previously closed at $1.77.

CRR has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Piper Jaffray Companies set a $1.00 price objective on shares of CARBO Ceramics and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

The company has a market capitalization of $52.00 million, a price-to-earnings ratio of -0.65 and a beta of 1.81. The firm’s 50 day moving average price is $1.22 and its two-hundred day moving average price is $2.46. The company has a current ratio of 3.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.05). CARBO Ceramics had a negative net margin of 37.95% and a negative return on equity of 21.61%. The company had revenue of $43.10 million during the quarter, compared to analyst estimates of $51.85 million. During the same quarter last year, the company posted ($0.55) EPS. The firm’s quarterly revenue was down 25.7% on a year-over-year basis. As a group, equities research analysts predict that CARBO Ceramics Inc. will post -2.11 EPS for the current year.

In related news, CFO Ernesto Bautista III purchased 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the purchase, the chief financial officer now owns 156,240 shares in the company, valued at $234,360. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Kolstad purchased 32,350 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average price of $1.03 per share, for a total transaction of $33,320.50. Following the purchase, the chief executive officer now owns 495,000 shares in the company, valued at approximately $509,850. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 162,350 shares of company stock worth $206,071. 15.00% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in CARBO Ceramics by 133.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,086,828 shares of the oil and gas company’s stock valued at $2,817,000 after buying an additional 1,191,428 shares during the last quarter. Vanguard Group Inc. grew its stake in CARBO Ceramics by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,086,404 shares of the oil and gas company’s stock valued at $1,467,000 after buying an additional 79,563 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in CARBO Ceramics by 1.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,022,932 shares of the oil and gas company’s stock valued at $1,381,000 after buying an additional 17,184 shares during the last quarter. Tieton Capital Management LLC grew its stake in CARBO Ceramics by 6.3% in the 2nd quarter. Tieton Capital Management LLC now owns 351,451 shares of the oil and gas company’s stock valued at $474,000 after buying an additional 20,940 shares during the last quarter. Finally, Morgan Stanley grew its stake in CARBO Ceramics by 23.4% in the 2nd quarter. Morgan Stanley now owns 319,316 shares of the oil and gas company’s stock valued at $431,000 after buying an additional 60,610 shares during the last quarter. Institutional investors and hedge funds own 58.64% of the company’s stock.

CARBO Ceramics Company Profile (NYSE:CRR)

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.

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