Neo Performance Materials (OTCMKTS:NOPMF) Shares Down 7.7% – Here’s Why

Shares of Neo Performance Materials Inc. (OTCMKTS:NOPMF) fell 7.7% on Wednesday. The company traded as low as $18.00 and last traded at $18.00. Approximately 673 shares traded hands during trading, a decline of 98% from the average daily volume of 42,432 shares. The stock had previously closed at $19.50.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley Financial initiated coverage on shares of Neo Performance Materials in a research report on Wednesday, September 2nd. They issued a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of Neo Performance Materials in a research report on Monday, July 13th. Jefferies Financial Group upgraded Neo Performance Materials to a “strong-buy” rating in a report on Friday, September 25th. Finally, Zacks Research downgraded shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Neo Performance Materials presently has an average rating of “Buy”.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 2.06. The company has a fifty day moving average of $23.45 and a two-hundred day moving average of $22.79. The firm has a market capitalization of $831.05 million and a price-to-earnings ratio of -1,809.00.

Neo Performance Materials (OTCMKTS:NOPMF) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%. The firm had revenue of $205.75 million during the quarter, compared to analysts’ expectations of $169.14 million. During the same period in the previous year, the firm earned $0.13 EPS. As a group, equities research analysts predict that Neo Performance Materials Inc. will post 1.38 earnings per share for the current fiscal year.

About Neo Performance Materials

Neo Performance Materials Inc is a Canada-based advanced materials company that develops, manufactures and supplies materials used in high-technology and industrial applications. Its products are primarily derived from rare earths and other specialty metals and are sold to manufacturers around the world.

The company operates through businesses focused on magnetic materials, rare earth chemicals and oxides, and rare metals and alloys. Its Magnequench division produces rare-earth magnetic powders and bonded magnets used in motors, sensors, electronics, automotive components and other applications.