Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of fracking wastewater solution provider Heckmann (NASDAQOTH:NESC) dropped 10% today on a downgrade from an analyst.

So what: Analyst David Rose from Wedbush downgraded the stock to "underperform" from "neutral" and cut his price target to $2.50. He doesn't think the company will be able to live up to current estimates for 2013 earnings and thinks the stock hasn't fallen in line with competitors.  

Now what: Fracking services have taken a hit as the number of rigs running have fallen and companies become more efficient. The company is expected to lose money for 2012 and only return to a slight profit in 2013. I wouldn't sell just based on this downgrade, but fundamentals don't look good, so I'm not buying on the dip, either.

Interested in more info on Heckmann? Add it to your watchlist by clicking here.