CARBO Ceramics (NYSE:CRR) Shares Down 9.8% on Insider Selling

CARBO Ceramics Inc. (NYSE:CRR)’s stock price fell 9.8% on Monday following insider selling activity. The stock traded as low as $0.52 and last traded at $0.55, 957,913 shares traded hands during trading. An increase of 133% from the average session volume of 410,554 shares. The stock had previously closed at $0.61.

Specifically, major shareholder William C. Morris sold 160,539 shares of CARBO Ceramics stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $0.53, for a total transaction of $85,085.67. Following the transaction, the insider now owns 3,000,120 shares in the company, valued at approximately $1,590,063.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 15.00% of the stock is currently owned by insiders.

A number of analysts have issued reports on CRR shares. Piper Jaffray Companies set a $1.00 price target on shares of CARBO Ceramics and gave the company a “hold” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, ValuEngine upgraded shares of CARBO Ceramics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.

The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.78 and a current ratio of 2.66. The company has a market capitalization of $15.79 million, a P/E ratio of -0.21 and a beta of 1.63. The business’s fifty day simple moving average is $1.84 and its 200-day simple moving average is $1.67.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results 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). The company had revenue of $43.50 million during the quarter, compared to the consensus estimate of $45.88 million. CARBO Ceramics had a negative net margin of 46.99% and a negative return on equity of 22.93%. The business’s revenue was down 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. As a group, analysts forecast that CARBO Ceramics Inc. will post -2.22 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in CRR. Renaissance Technologies LLC increased its holdings in shares of CARBO Ceramics by 133.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,086,828 shares of the oil and gas company’s stock worth $2,817,000 after buying an additional 1,191,428 shares during the last quarter. Fayez Sarofim & Co bought a new stake in shares of CARBO Ceramics in the 2nd quarter worth about $401,000. Jane Street Group LLC bought a new stake in shares of CARBO Ceramics in the 2nd quarter worth about $135,000. Vanguard Group Inc. increased its holdings in shares of CARBO Ceramics by 7.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,086,404 shares of the oil and gas company’s stock worth $1,467,000 after buying an additional 79,563 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of CARBO Ceramics in the 2nd quarter worth about $86,000. Institutional investors own 59.63% of the company’s stock.

CARBO Ceramics Company Profile (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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