CARBO Ceramics Inc. (NYSE:CRR) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 4,818,700 shares, a decline of 11.1% from the June 30th total of 5,418,500 shares. Based on an average daily trading volume, of 432,400 shares, the days-to-cover ratio is presently 11.1 days. Approximately 20.6% of the company’s shares are short sold.

In other news, VP Don P. Conkle bought 75,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were bought at an average cost of $1.31 per share, with a total value of $98,250.00. Following the completion of the transaction, the vice president now directly owns 228,237 shares of the company’s stock, valued at $298,990.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Kolstad bought 32,350 shares of the stock in a transaction dated Monday, July 29th. The shares were purchased at an average cost of $1.03 per share, for a total transaction of $33,320.50. Following the completion of the transaction, the chief executive officer now directly owns 495,000 shares of the company’s stock, valued at $509,850. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 162,350 shares of company stock worth $206,071. Insiders own 15.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of CARBO Ceramics by 1.0% in the 4th quarter. BlackRock Inc. now owns 3,000,740 shares of the oil and gas company’s stock valued at $10,443,000 after acquiring an additional 28,550 shares during the period. Geode Capital Management LLC raised its position in shares of CARBO Ceramics by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 222,243 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 10,605 shares during the period. Bank of America Corp DE raised its position in shares of CARBO Ceramics by 71.6% in the 4th quarter. Bank of America Corp DE now owns 32,290 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 13,471 shares during the period. FMR LLC raised its position in shares of CARBO Ceramics by 0.4% in the 4th quarter. FMR LLC now owns 3,687,236 shares of the oil and gas company’s stock valued at $12,831,000 after acquiring an additional 14,769 shares during the period. Finally, Deutsche Bank AG raised its position in shares of CARBO Ceramics by 400.2% in the 4th quarter. Deutsche Bank AG now owns 240,947 shares of the oil and gas company’s stock valued at $837,000 after acquiring an additional 192,776 shares during the period. Institutional investors and hedge funds own 67.97% of the company’s stock.

CARBO Ceramics stock traded down $0.06 during trading on Thursday, hitting $1.25. 122,547 shares of the company were exchanged, compared to its average volume of 425,806. The firm has a 50 day simple moving average of $1.22. CARBO Ceramics has a 52 week low of $0.83 and a 52 week high of $8.99. The company has a market capitalization of $39.95 million, a P/E ratio of -0.47 and a beta of 1.81. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.21 and a quick ratio of 1.78.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.05). CARBO Ceramics had a negative return on equity of 21.61% and a negative net margin of 37.95%. The company had revenue of $43.10 million for the quarter, compared to the consensus estimate of $51.85 million. During the same quarter last year, the company posted ($0.55) EPS. The company’s quarterly revenue was down 25.7% compared to the same quarter last year. Equities analysts expect that CARBO Ceramics will post -2.11 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. ValuEngine raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, Piper Jaffray Companies set a $1.00 target price on CARBO Ceramics and gave the stock a “hold” rating in a research report on Friday, July 26th.

CARBO Ceramics Company Profile

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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