Carbo Ceramics -13% after negative Seeking Alpha post

|By:, SA News Editor

Carbo Ceramics (CRR -13.2%) sinks to one-month lows following a negative blog from Forensic Research Analyst, which says its analysis of CRR's FracFocus data "incontrovertibly demonstrates" that the company’s largest remaining customers are moving away from ceramics to sand completions.

The blog notes CRR broke a leverage covenant at the end of January and now is in near-term danger of another covenant violation, and says a near‐term dilutive equity raise can only buy a few more quarters of further balance sheet runway and "will only serve to delay the inevitable."

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