Hi-Crush Partners (HCLP) Shares Gap Up to $3.93
Hi-Crush Partners LP (NYSE:HCLP) shares gapped up prior to trading on Friday . The stock had previously closed at $4.12, but opened at $3.93. Hi-Crush Partners shares last traded at $3.93, with a volume of 34765 shares.
Several brokerages have commented on HCLP. Credit Suisse Group lowered Hi-Crush Partners from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $6.00 to $3.00 in a report on Wednesday, December 19th. Piper Jaffray Companies set a $10.00 target price on Hi-Crush Partners and gave the company a “hold” rating in a research report on Tuesday, October 2nd. R. F. Lafferty set a $10.00 target price on Hi-Crush Partners and gave the company a “buy” rating in a research report on Tuesday, December 4th. B. Riley restated a “neutral” rating and issued a $6.50 target price (down previously from $10.00) on shares of Hi-Crush Partners in a research report on Tuesday. Finally, Zacks Investment Research downgraded Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $10.70.
The company has a quick ratio of 2.18, a current ratio of 2.70 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $369.19 million, a price-to-earnings ratio of 3.92 and a beta of 1.84.
Several large investors have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new stake in Hi-Crush Partners during the 3rd quarter valued at approximately $124,000. North Star Investment Management Corp. raised its stake in Hi-Crush Partners by 40.2% during the 4th quarter. North Star Investment Management Corp. now owns 11,500 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 3,300 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Hi-Crush Partners during the 3rd quarter valued at approximately $151,000. Private Advisor Group LLC purchased a new stake in Hi-Crush Partners during the 2nd quarter valued at approximately $167,000. Finally, B. Riley Wealth Management Inc. purchased a new stake in Hi-Crush Partners during the 3rd quarter valued at approximately $191,000. 13.35% of the stock is owned by institutional investors and hedge funds.
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About Hi-Crush Partners (NYSE:HCLP)
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
See Also: Net Asset Value
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