CARBO Ceramics Inc. (CRR) Insider Buys $47,700.00 in Stock

CARBO Ceramics Inc. (NYSE:CRR) insider Gary A. Kolstad acquired 10,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were bought at an average cost of $4.77 per share, with a total value of $47,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

CRR traded down $0.20 during trading on Tuesday, reaching $4.47. 278,902 shares of the company traded hands, compared to its average volume of 490,094. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.07 and a quick ratio of 1.87. CARBO Ceramics Inc. has a 12-month low of $4.20 and a 12-month high of $12.69. The firm has a market cap of $126.98 million, a P/E ratio of -1.19 and a beta of 1.57.

CARBO Ceramics (NYSE:CRR) last posted its earnings results on Thursday, October 25th. The oil and gas company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.24). CARBO Ceramics had a negative net margin of 32.14% and a negative return on equity of 18.72%. The business had revenue of $53.82 million during the quarter, compared to analysts’ expectations of $66.76 million. On average, sell-side analysts anticipate that CARBO Ceramics Inc. will post -2.31 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of CRR. Bank of America Corp DE grew its holdings in shares of CARBO Ceramics by 66.3% in the second quarter. Bank of America Corp DE now owns 24,525 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 9,780 shares in the last quarter. Spark Investment Management LLC purchased a new position in shares of CARBO Ceramics in the second quarter valued at $304,000. Eqis Capital Management Inc. purchased a new position in shares of CARBO Ceramics in the second quarter valued at $448,000. Bridgeway Capital Management Inc. grew its holdings in shares of CARBO Ceramics by 74.6% in the third quarter. Bridgeway Capital Management Inc. now owns 93,600 shares of the oil and gas company’s stock valued at $679,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of CARBO Ceramics in the third quarter valued at $962,000. 81.41% of the stock is owned by hedge funds and other institutional investors.

CRR has been the subject of a number of research analyst reports. ValuEngine lowered shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Zacks Investment Research lowered shares of CARBO Ceramics from a “hold” rating to a “sell” rating in a report on Tuesday, September 25th. Finally, Piper Jaffray Companies set a $9.00 price objective on shares of CARBO Ceramics and gave the company a “hold” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.00.

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CARBO Ceramics Company Profile

CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, and industrial markets worldwide. The company operates in two segments, Oilfield Technologies and Services, and Environmental Products and Services. The Oilfield Technologies and Services segment manufactures and sells ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells to pressure pumping companies; produces ceramic pellets for use in various industrial technology applications, such as casting and milling; and provides technology to design, build, and optimize the Frac.

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