CARBO Ceramics (NYSE:CRR) Shares Cross Above Two Hundred Day Moving Average of $2.47

CARBO Ceramics Inc. (NYSE:CRR)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.47 and traded as high as $1.52. CARBO Ceramics shares last traded at $1.51, with a volume of 7,490 shares trading hands.

A number of research analysts have issued reports on CRR shares. Zacks Investment Research upgraded 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 CARBO Ceramics and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, ValuEngine upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

The stock has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $2.47. The firm has a market cap of $41.13 million, a PE ratio of -0.66 and a beta of 1.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 1.78.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share (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 for the quarter, compared to analysts’ expectations of $51.85 million. During the same quarter in the previous year, the firm posted ($0.55) EPS. The firm’s quarterly revenue was down 25.7% compared to the same quarter last year. As a group, equities analysts predict that CARBO Ceramics Inc. will post -2.11 EPS for the current fiscal year.

In other CARBO Ceramics news, CFO Ernesto Bautista III purchased 30,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the completion of the purchase, the chief financial officer now directly owns 156,240 shares of the company’s stock, valued at $234,360. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gary A. Kolstad purchased 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average price of $1.18 per share, with a total value of $29,500.00. Following the purchase, the insider now directly owns 537,650 shares of the company’s stock, valued at $634,427. The disclosure for this purchase can be found here. Insiders bought 162,350 shares of company stock valued at $206,071 in the last 90 days. Company insiders own 15.00% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of CARBO Ceramics by 22.7% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,050 shares of the oil and gas company’s stock worth $84,000 after purchasing an additional 4,450 shares during the last quarter. Investors Research Corp purchased a new position in shares of CARBO Ceramics in the first quarter worth $31,000. Geode Capital Management LLC raised its stake in shares of CARBO Ceramics by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 222,243 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 10,605 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CARBO Ceramics by 71.6% in the fourth quarter. Bank of America Corp DE now owns 32,290 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 13,471 shares during the last quarter. Finally, FMR LLC raised its stake in shares of CARBO Ceramics by 0.4% in the fourth quarter. FMR LLC now owns 3,687,236 shares of the oil and gas company’s stock worth $12,831,000 after purchasing an additional 14,769 shares during the last quarter. Hedge funds and other institutional investors own 58.64% of the company’s stock.

About CARBO Ceramics (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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