CARBO Ceramics Inc. (NYSE:CRR) was the target of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 4,818,700 shares, a drop of 11.1% from the July 15th total of 5,418,500 shares. Currently, 20.6% of the company’s shares are sold short. Based on an average daily volume of 432,400 shares, the days-to-cover ratio is currently 11.1 days.

CARBO Ceramics stock remained flat at $$1.70 during mid-day trading on Friday. The company had a trading volume of 21,210 shares, compared to its average volume of 327,588. The stock’s 50-day moving average is $1.30 and its 200 day moving average is $2.37. The firm has a market cap of $49.94 million, a P/E ratio of -0.63 and a beta of 1.81. The company has a current ratio of 3.21, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. CARBO Ceramics has a 1 year low of $0.83 and a 1 year high of $8.85.

CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $43.10 million for the quarter, compared to analysts’ expectations of $51.85 million. During the same period last year, the business earned ($0.55) earnings per share. The firm’s revenue for the quarter was down 25.7% on a year-over-year basis. As a group, equities analysts forecast that CARBO Ceramics will post -2.11 earnings per share for the current fiscal year.

In other CARBO Ceramics news, insider Gary A. Kolstad acquired 25,000 shares of CARBO Ceramics stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $1.18 per share, with a total value of $29,500.00. Following the purchase, the insider now owns 537,650 shares in the company, valued at $634,427. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Don P. Conkle acquired 75,000 shares of CARBO Ceramics stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average cost of $1.31 per share, with a total value of $98,250.00. Following the completion of the purchase, the vice president now owns 228,237 shares in the company, valued at approximately $298,990.47. The disclosure for this purchase can be found here. Insiders purchased a total of 162,350 shares of company stock valued at $206,071 in the last quarter. 15.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CRR. Geode Capital Management LLC raised its stake in shares of CARBO Ceramics by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 222,243 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 10,605 shares in the last quarter. Bank of America Corp DE raised its stake in shares of CARBO Ceramics by 71.6% during the 4th quarter. Bank of America Corp DE now owns 32,290 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 13,471 shares in the last quarter. Deutsche Bank AG raised its stake in shares of CARBO Ceramics by 400.2% during the 4th quarter. Deutsche Bank AG now owns 240,947 shares of the oil and gas company’s stock worth $837,000 after purchasing an additional 192,776 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of CARBO Ceramics by 92.7% during the 1st quarter. Moors & Cabot Inc. now owns 183,600 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 88,300 shares in the last quarter. Finally, Algert Global LLC acquired a new position in shares of CARBO Ceramics during the 1st quarter valued at about $74,000. 58.64% of the stock is owned by institutional investors.

CRR has been the subject of several research analyst reports. Piper Jaffray Companies set a $1.00 price objective on CARBO Ceramics and gave the stock a “hold” rating in a research note on Friday, July 26th. ValuEngine raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised CARBO Ceramics from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th.

About CARBO Ceramics

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.

Featured Article: How is an ETF different from a mutual fund?

Receive News & Ratings for CARBO Ceramics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CARBO Ceramics and related companies with MarketBeat.com's FREE daily email newsletter.