Carbo Ceramics Inc. (NYSE:CRR)’s share price fell 3.2% during mid-day trading on Monday . The stock traded as low as $13.00 and last traded at $13.34, with a volume of 216,559 shares changing hands. The stock had previously closed at $13.78.

Several brokerages have recently issued reports on CRR. Canaccord Genuity reiterated a “hold” rating on shares of Carbo Ceramics in a research note on Sunday, May 8th. Zacks Investment Research lowered Carbo Ceramics from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Scotiabank reiterated a “sector perform” rating and issued a $15.00 price target (down previously from $18.00) on shares of Carbo Ceramics in a research note on Tuesday, June 7th. Howard Weil decreased their price target on Carbo Ceramics from $18.00 to $15.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 7th. Finally, Goldman Sachs Group Inc. reissued a “sell” rating and set a $8.00 price objective on shares of Carbo Ceramics in a report on Wednesday, June 15th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $18.57.

The company has a 50-day moving average of $13.26 and a 200 day moving average of $15.24. The company’s market cap is $314.17 million.

Carbo Ceramics (NYSE:CRR) last posted its earnings results on Thursday, April 28th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.90) by $0.17. The business earned $33.10 million during the quarter, compared to analysts’ expectations of $38.86 million. Carbo Ceramics’s quarterly revenue was down 55.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.24) EPS. On average, analysts anticipate that Carbo Ceramics Inc. will post ($3.24) earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Carbo Ceramics stock. Schroder Investment Management Group bought a new position in shares of Carbo Ceramics Inc. (NYSE:CRR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 133,000 shares of the company’s stock, valued at approximately $2,288,000. Schroder Investment Management Group owned about 0.58% of Carbo Ceramics at the end of the most recent reporting period.

Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it 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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