Carbo Ceramics, Inc. (CRR) Stock Trending Up After Price Target Increase at Cowen and Company

Carbo Ceramics, Inc. (NYSE: CRR) shares rose on Monday February 6 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock, boosting the price target of stock.

Investors turned cautious in early trading today with the Dow Jones Industrial Average DJIA, was off by 17 points, or 0.1%, to 20.054.

The S&P 500 SPX, -0.14% eased 5 points, or 0.2%, to 2,293, with seven of the 11 main sectors trading lower. Nearly all main sectors were trading lower, while materials and consumer staples led the losses.

The Nasdaq Composite COMP, -0.14% slipped 10 points, or 0.2%, at 5,144.

Carbo Ceramics, Inc. (NYSE: CRR) had its price target raised by equities researchers at Cowen and Company from $11.00 to $15.00. With a rating of Market Perform on the shares, the company has a 52-week high of $24.20. As a means of comparison, a number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $11.94, a decrease compared to the opening price of $15.92.

Shares of Carbo Ceramics, Inc. (NYSE: CRR) opened at $15.92 yesterday and traded in a range between, $15.56 and $16.65, and last traded at $15.79, which is an increase of $0.47 over the previous closing price.

Carbo Ceramics, Inc. (NYSE: CRR) now has a market cap of 419.13M.

Carbo Ceramics, Inc. (NYSE: CRR) Average Daily Trading Volume

401,159 shares crossed the trading desk yesterday, 56 percent below normal, out of a total float 20,133,000. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.

However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors retain teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.

Carbo Ceramics, Inc. (NYSE: CRR) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.

Trades for Carbo Ceramics, Inc. (NYSE: CRR) have ranged from $5.66 – 24.2000, and the stock now has a 50-day MA of $11.29 and 200-day MA of $10.82. Today’s last price is 34.75%% lower than the 52 week high of $24.20.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings at least 25% or more for the past 3 years.

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