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TheStreet Wire

Bronco Rises On Unusually High Volume (BRNC)

By TheStreet Wire 04/15/11 - 09:53 AM EDT

Find out if (BRNC) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Bronco Drilling Company Incorporated (Nasdaq:BRNC) is trading at unusually high volume Friday with 2.8 million shares changing hands. It is currently at 7.6 times its average daily volume and trading up 67 cents (+6.4%) at $11.07 as of 9:31 a.m. ET.

Bronco has a market cap of $277.9 million and is part of the basic materials sector and energy industry. Shares are up 30% year to date as of the close of trading on Thursday.

Bronco Drilling Company, Inc. provides contract land drilling and workover services to the oil and natural gas exploration and production companies in the United States.

TheStreet Ratings rates Bronco as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we find that the company's profit margins have been poor overall. You can view the full Bronco Ratings Report.

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