Neo Performance Materials Inc. (OTCMKTS:NOPMF) Sees Large Drop in Short Interest

Neo Performance Materials Inc. (OTCMKTS:NOPMF) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 23,900 shares, a decrease of 49.8% from the August 15th total of 47,600 shares. Based on an average daily volume of 6,100 shares, the days-to-cover ratio is currently 3.9 days.

A number of equities research analysts have recently commented on NOPMF shares. Stifel Nicolaus upped their price objective on shares of Neo Performance Materials from C$26.00 to C$26.50 and gave the company a “buy” rating in a research note on Friday, August 13th. Raymond James upped their price objective on shares of Neo Performance Materials from C$25.00 to C$27.00 and gave the company an “outperform” rating in a research note on Monday, August 16th. Finally, Scotiabank upped their price objective on shares of Neo Performance Materials from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Friday, August 13th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Neo Performance Materials has a consensus rating of “Buy” and a consensus price target of $22.90.

OTCMKTS NOPMF traded down $0.32 on Friday, hitting $13.48. 3,044 shares of the company were exchanged, compared to its average volume of 6,816. Neo Performance Materials has a 12 month low of $7.75 and a 12 month high of $18.90. The stock has a fifty day moving average of $14.45 and a 200-day moving average of $14.70.

About Neo Performance Materials

Neo Performance Materials, Inc engages in the manufacture of metal-based functional materials. It operates through the following segments: Magnequench; Chemicals and Oxides; Rare Metals; and Corporate. The Magnequench segment focuses in the manufacture of bonded NdFeB powders and bonded permanent magnets.

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