The stock of CARBO Ceramics Inc. (NYSE:CRR) reached all time low today, Oct, 28 and still has $5.68 target or 10.00% below today’s $6.31 share price. This indicates more downside for the $108.70M company. This technical setup was reported by Barchart.com. If the $5.68 PT is reached, the company will be worth $10.87M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 2.62 million shares traded hands or 217.48% up from the average. CARBO Ceramics Inc. (NYSE:CRR) has declined 50.59% since March 28, 2016 and is downtrending. It has underperformed by 55.30% the S&P500.
Analysts await CARBO Ceramics Inc. (NYSE:CRR) to report earnings on November, 3. They expect $-0.67 earnings per share, down 91.43% or $0.32 from last year’s $-0.35 per share. After $-0.50 actual earnings per share reported by CARBO Ceramics Inc. for the previous quarter, Wall Street now forecasts 34.00% negative EPS growth.
CARBO Ceramics Inc. (NYSE:CRR) Ratings Coverage
Out of 6 analysts covering Carbo Ceramics Inc. (NYSE:CRR), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Carbo Ceramics Inc. has been the topic of 12 analyst reports since August 24, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Guggenheim given on Monday, November 30. The firm earned “Market Perform” rating on Friday, October 30 by Cowen & Co. As per Friday, January 29, the company rating was maintained by Howard Weil. The stock has “Sector Perform” rating given by Howard Weil on Thursday, September 10. The rating was maintained by Howard Weil on Tuesday, June 7 with “Sector Perform”. As per Monday, September 21, the company rating was downgraded by Iberia Capital Partners. KLR Group initiated CARBO Ceramics Inc. (NYSE:CRR) rating on Monday, December 14. KLR Group has “Hold” rating and $15.25 price target.
According to Zacks Investment Research, “CARBO Ceramics Inc. is the world’s largest producer and supplier of ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells. Demand for ceramic proppants depends primarily upon the demand for natural gas and oil and on the number of natural gas and oil wells drilled, completed or recompleted worldwide. More specifically, the demand for ceramic proppants is dependent on the number of oil and gas wells that are hydraulically fractured to stimulate production.”
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.63, from 1.54 in 2016Q1. The ratio worsened, as 14 funds sold all CARBO Ceramics Inc. shares owned while 42 reduced positions. 14 funds bought stakes while 37 increased positions. They now own 20.99 million shares or 6.41% less from 22.43 million shares in 2016Q1.
Blackrock Fund Advisors holds 1.32 million shares or 0% of its portfolio. Moreover, Dynamic has 0.11% invested in CARBO Ceramics Inc. (NYSE:CRR) for 73,976 shares. Jacobs Levy Equity Management holds 0.01% or 47,700 shares in its portfolio. Us Retail Bank De, a Minnesota-based fund reported 11,248 shares. Van Eck Corporation has 70,769 shares for 0% of their US portfolio. Prudential Finance Incorporated owns 55,577 shares or 0% of their US portfolio. Citadel Advisors Ltd Com reported 28,711 shares or 0% of all its holdings. Heartland Advsrs Incorporated holds 0.96% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR) for 1.30M shares. Alliancebernstein L P, a New York-based fund reported 26,300 shares. Morgan Stanley last reported 0% of its portfolio in the stock. Paradigm Asset Mngmt Limited Liability Co has invested 0% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR). Geode Cap Lc has 125,750 shares for 0% of their US portfolio. Wedge Mgmt L Limited Partnership Nc holds 0% or 26,567 shares in its portfolio. Wellington Mngmt Group Inc Limited Liability Partnership holds 86,210 shares or 0% of its portfolio. Citigroup reported 215,991 shares or 0% of all its holdings.
More notable recent CARBO Ceramics Inc. (NYSE:CRR) news were published by: Fool.com which released: “CARBO Ceramics Inc.’s Stock Gets Crushed After Reporting Atrocious Earnings” on October 27, 2016, also Seekingalpha.com with their article: “CARBO Ceramics’ Response To The SEC Reveals Alarming Accounting Concerns” published on October 24, 2016, Fool.com published: “Cratering Earnings Cause CARBO Ceramics Inc.’s Stock to Slip” on April 28, 2016. More interesting news about CARBO Ceramics Inc. (NYSE:CRR) were released by: Seekingalpha.com and their article: “CARBO Ceramics: Is The Final Nail In The Coffin?” published on October 18, 2016 as well as Seekingalpha.com‘s news article titled: “CARBO Ceramics: A Race Against Time” with publication date: May 05, 2016.
CRR Company Profile
Carbo Ceramics Inc., incorporated on June 23, 1987, is an oilfield services technology company. The Firm supplies ceramic proppant. The Firm also sells sand and resin-coated proppants. Additionally, the Company provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
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