CARBO Ceramics (NYSE:CRR) Shares Gap Down to $0.82

CARBO Ceramics Inc. (NYSE:CRR)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $0.59, but opened at $0.82. CARBO Ceramics shares last traded at $0.65, with a volume of 1,091,726 shares traded.

CRR has been the subject of a number of research analyst reports. Zacks Investment Research upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Piper Jaffray Companies set a $1.00 price target on CARBO Ceramics and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, ValuEngine upgraded CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The company has a market cap of $45.83 million, a P/E ratio of -0.24 and a beta of 1.63. The business has a fifty day moving average price of $1.95 and a 200-day moving average price of $1.71. The company has a quick ratio of 1.78, a current ratio of 3.21 and a debt-to-equity ratio of 0.37.

CARBO Ceramics (NYSE:CRR) last issued its quarterly earnings data on Friday, November 8th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.53). CARBO Ceramics had a negative return on equity of 22.15% and a negative net margin of 46.99%. The firm had revenue of $43.50 million for the quarter, compared to the consensus estimate of $45.88 million. During the same quarter in the prior year, the firm earned ($0.62) EPS. The company’s revenue was down 19.1% on a year-over-year basis. As a group, research analysts expect that CARBO Ceramics Inc. will post -2.22 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in shares of CARBO Ceramics by 266.4% during the third quarter. Tower Research Capital LLC TRC now owns 10,333 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 7,513 shares during the period. Greatmark Investment Partners Inc. raised its position in shares of CARBO Ceramics by 109.9% in the third quarter. Greatmark Investment Partners Inc. now owns 30,125 shares of the oil and gas company’s stock valued at $72,000 after buying an additional 15,775 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of CARBO Ceramics in the second quarter valued at approximately $135,000. Citadel Advisors LLC raised its position in shares of CARBO Ceramics by 75.0% in the second quarter. Citadel Advisors LLC now owns 102,050 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 43,747 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of CARBO Ceramics by 1.7% in the second 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 in the last quarter. Institutional investors own 57.10% 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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