NPK International (NYSE:NPKI) Hits New 1-Year High - Here's What Happened

Key Points

• NPK International's stock price reached a new **52-week high** of $9.17, with a trading volume of over **700,000 shares**.
• HC Wainwright has reaffirmed a **"buy" rating** for NPK International with a target price of **$12.00**.
• The company reported a quarterly EPS of **$0.12**, exceeding estimates and a revenue of **$64.78 million**, significantly above analyst expectations.

NPK International Inc. (NYSE:NPKI - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $9.17 and last traded at $9.13, with a volume of 700215 shares trading hands. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of NPK International in a research note on Monday, May 5th.

NPK International Price Performance

The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $742.93 million, a P/E ratio of -5.20 and a beta of 2.10. The firm has a 50 day moving average price of $8.54.

NPK International (NYSE:NPKI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $64.78 million for the quarter, compared to analysts' expectations of $56.01 million. NPK International had a positive return on equity of 8.09% and a negative net margin of 42.71%. Research analysts predict that NPK International Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other NPK International news, Director Joseph A. Cutillo bought 12,500 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $8.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director directly owned 12,500 shares of the company's stock, valued at $100,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Lori Briggs sold 8,005 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $8.57, for a total value of $68,602.85. Following the completion of the sale, the vice president directly owned 260,626 shares in the company, valued at $2,233,564.82. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,722 shares of company stock worth $167,234 over the last three months. 4.90% of the stock is owned by insiders.

Institutional Trading of NPK International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverwater Partners LLC purchased a new stake in NPK International in the second quarter worth about $330,000. Ritholtz Wealth Management purchased a new stake in NPK International in the second quarter worth about $90,000. KLP Kapitalforvaltning AS purchased a new stake in NPK International in the second quarter worth about $129,000. Janney Montgomery Scott LLC purchased a new stake in NPK International in the second quarter worth about $1,077,000. Finally, Penbrook Management LLC purchased a new stake in NPK International in the second quarter worth about $584,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

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.