CARBO Ceramics (NYSE:CRR) Shares Up 2.7%

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CARBO Ceramics Inc. (NYSE:CRR) shot up 2.7% on Wednesday . The company traded as high as $0.45 and last traded at $0.40, 192,098 shares traded hands during mid-day trading. A decline of 54% from the average session volume of 416,270 shares. The stock had previously closed at $0.39.

Separately, Zacks Investment Research raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

The company has a market capitalization of $11.75 million, a PE ratio of -0.15 and a beta of 1.44. The stock’s fifty day simple moving average is $1.01 and its 200-day simple moving average is $1.44. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.47 and a current ratio of 2.66.

CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.53). CARBO Ceramics had a negative return on equity of 22.93% and a negative net margin of 46.99%. The firm had revenue of $43.50 million for the quarter, compared to analysts’ expectations of $45.88 million. During the same quarter last year, the firm earned ($0.62) earnings per share. The business’s quarterly revenue was down 19.1% compared to the same quarter last year. On average, equities analysts anticipate that CARBO Ceramics Inc. will post -2.44 EPS for the current year.

In related news, major shareholder William C. Morris sold 83,247 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $0.54, for a total value of $44,953.38. Following the completion of the transaction, the insider now directly owns 2,744,996 shares in the company, valued at $1,482,297.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William C. Morris sold 160,539 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $0.53, for a total value of $85,085.67. Following the completion of the transaction, the insider now owns 3,000,120 shares of the company’s stock, valued at $1,590,063.60. The disclosure for this sale can be found here. Insiders sold a total of 346,976 shares of company stock valued at $191,953 over the last quarter. 15.00% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in shares of CARBO Ceramics by 133.1% during 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 acquiring an additional 1,191,428 shares during the last quarter. Vanguard Group Inc. raised its stake in CARBO Ceramics by 7.9% during the second quarter. Vanguard Group Inc. now owns 1,086,404 shares of the oil and gas company’s stock worth $1,467,000 after purchasing an additional 79,563 shares during the period. D. E. Shaw & Co. Inc. raised its stake in CARBO Ceramics by 1.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,022,932 shares of the oil and gas company’s stock worth $1,381,000 after purchasing an additional 17,184 shares during the period. Tieton Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 20,940 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of 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 purchasing an additional 60,610 shares during the last quarter. 53.02% of the stock is currently owned by hedge funds and other institutional investors.

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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