Northeast Financial Group Inc. Invests $798,000 in NPK International Inc. $NPKI

Key Points

• Northeast Financial Group Inc. has invested approximately $798,000 in shares of NPK International Inc., acquiring 93,810 shares and representing 0.11% ownership of the company.
• Several hedge funds, including Harbor Capital Advisors Inc. and Janney Montgomery Scott LLC, have recently acquired significant stakes in NPK International, which now has 80.81% of its stock owned by institutional investors.
• NPK International reported a $0.11 earnings per share for the last quarter, exceeding analysts' expectations, and has a current price target averaging around $12.17 from multiple analysts.

Northeast Financial Group Inc. bought a new position in shares of NPK International Inc. (NYSE:NPKI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 93,810 shares of the company's stock, valued at approximately $798,000. Northeast Financial Group Inc. owned 0.11% of NPK International as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in NPK International in the second quarter valued at about $7,615,000. Janney Montgomery Scott LLC purchased a new position in NPK International in the second quarter valued at about $1,077,000. Public Employees Retirement System of Ohio purchased a new position in NPK International in the second quarter valued at about $458,000. Diversified Trust Co purchased a new position in NPK International in the second quarter valued at about $210,000. Finally, NorthCrest Asset Manangement LLC purchased a new position in NPK International in the second quarter valued at about $188,000. Institutional investors and hedge funds own 80.81% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Roth Capital reaffirmed a "buy" rating and issued a $12.00 target price (up from $10.00) on shares of NPK International in a report on Tuesday, August 12th. B. Riley increased their target price on shares of NPK International from $11.00 to $12.50 and gave the company a "buy" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, NPK International currently has an average rating of "Buy" and an average price target of $12.17.

Insider Buying and Selling

In related news, VP Lori Briggs sold 8,005 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $9.51, for a total transaction of $76,127.55. Following the sale, the vice president owned 252,621 shares in the company, valued at approximately $2,402,425.71. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Lanigan sold 68,896 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $10.34, for a total transaction of $712,384.64. Following the sale, the chief executive officer owned 1,095,913 shares in the company, valued at approximately $11,331,740.42. This trade represents a 5.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,919 shares of company stock worth $888,289. 4.90% of the stock is owned by company insiders.

NPK International Trading Up 0.2%

Shares of NPKI opened at $11.30 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.34 and a quick ratio of 2.08. The firm has a 50 day simple moving average of $10.10 and a 200-day simple moving average of $8.29. NPK International Inc. has a 1-year low of $4.76 and a 1-year high of $11.45. The stock has a market cap of $954.06 million, a price-to-earnings ratio of -6.73 and a beta of 2.27.

NPK International (NYSE:NPKI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. NPK International had a negative net margin of 62.59% and a positive return on equity of 8.29%. The business had revenue of $68.23 million during the quarter, compared to analysts' expectations of $59.75 million. NPK International has set its FY 2025 guidance at EPS. Equities analysts forecast that NPK International Inc. will post 0.39 EPS for the current fiscal year.

About NPK International

NPK International Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.

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