Emerge Energy Services LP EMES shares are trading sharply higher by $1.60 (18 percent) at $9.01 in Thursday's session. The issue has been moving up on much higher than normal volume since June 2, when it ended the session at $4.99.
It's on track to have its biggest volume day since March 4, when 2.11 million shares changed hands. So far, 3 million shares have traded with over an hour left in the session.
The producer of silica sand -- a key ingredient for the hydraulic fracturing of oil and natural gas wells -- has been one of the issues in this sector to rally as of late. Silica Holdings Inc. SLCA, Fairmount Santrol Holdings FMSA and Hi-Crush Properties LP HCLP have been moving in tandem with the issue.
The move in the sector may be having a delayed reaction to a Morgan Stanley note from May 26 that mentioned some bullish dynamics that may be a catalyst for a rally.
Benzinga's attempt to contact the company were unsuccessful and a message could not be left as the company's voicemail was full.
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