Carbo Ceramics (CRR) : Traders are bullish on Carbo Ceramics (CRR) as it has outperformed the S&P 500 by a wide margin of 3.86% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.28%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.71% in the last 1 week, and is up 6.45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Carbo Ceramics (NYSE:CRR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.87 and $13.49 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.20, notching a gain of 3.20% for the day. The total traded volume was 696,486 . The stock had closed at $13.76 on the previous day.
The stock has recorded a 20-day Moving Average of 7.34% and the 50-Day Moving Average is 8.1%. CARBO Ceramics Inc. is up 10.59% in the last 3-month period. Year-to-Date the stock performance stands at -17.44%.
Carbo Ceramics (CRR) stock is expected to deviate a maximum of $1.8 from the average target price of $14.29 for the short term period. 7 Street Experts have initiated coverage on the stock with the most promising target being $18 and the most muted being $13.
Carbo Ceramics Inc. is an oilfield services technology company , which supplies ceramic proppant and, sells sand and resin-coated sand. The Company also sells sand independent of its resin-coating operations. It also provides fracture simulation software, and, fracture design and consulting services, and a range of technologies for spill prevention, containment and countermeasures. The Companys products and services are primarily used in the hydraulic fracturing of natural gas and oil wells. There are three primary types of proppant that can be utilized in the hydraulic fracturing process: sand, resin-coated sand and ceramic. The Company manufactures six ceramic proppants: KRYPTOSPHERETM HD, CARBOHSP, CARBOPROP, CARBOLITE, CARBOECONOPROP and CARBOHYDROPROP. The Company produces resin-coated ceramic (CARBOBOND LITE) and resin-coated sand (CARBOBOND RCS) proppants; CARBO NORTHERN WHITE, a frac sand; and CARBONRT proppant. The Company also sells SCALEGUARD, a porous ceramic proppant.