Home / Basic Materials / CSI Compressco LP (CCLP) Boosts Basic Materials Sector with Early Advance of 5.89% on September 23

CSI Compressco LP (CCLP) Boosts Basic Materials Sector with Early Advance of 5.89% on September 23

CSI Compressco LP (CCLP” target=”_new”>CCLP) is one of the best performing stocks in the basic materials sector for companies listed on the New York Stock Exchange or NASDAQ exchange shortly after the opening bell on September 23. Shares of CCLP” target=”_new”>CCLP have climbed 5.89% about 30 minutes into the session to $10.61 after closing the day prior at $10.02. It’s early, but the stock has traded as high as $10.61 and as low as $10.25 so far. Today’s quick advance has come with about 5,398 shares changing hands, compared to an average 30-day volume of 48,217 for CSI Compressco LP. The price is currently below the 30-day volume weighted average price of $10.37 for CCLP” target=”_new”>CCLP.

The share appreciation gives the company a market capitalization of $332.94 million based upon 33.23 million shares outstanding. It also means that CCLP has a price-to-book ratio of 1.69:1 and a price-to-earnings ratio of :1.

In the past 52 weeks, shares of CCLP” target=”_new”>CCLP have traded as low as $3.74 and as high as $15.27. Technical traders will take note that at $10.61, shares of CCLP” target=”_new”>CCLP are trading above their 200-day MA at $7.57 and above their 50-day MA at $9.24. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.

Who is CCLP?

CSI Compressco LP is engaged in providing compression services and equipment for natural gas & oil production, gathering, transportation, processing, & storage. It also sells standard & custom designed compressor packages & oilfield fluid pump systems. The company’s 800 employees are led by CEO Timothy A. Knox from the corporate headquarters at 3809 S. FM 1788.


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