Neo Performance Materials (OTCMKTS:NOPMF) Shares Down 7.7% - Here's What Happened

Key Points

• Neo Performance Materials shares fell 7.7% to $18.00, with only 673 shares traded—98% below the stock’s average daily volume.
• Analyst sentiment remains generally positive, with a consensus “Buy” rating; ratings range from Strong Buy to Hold.
• The company’s latest quarterly results exceeded expectations, reporting $0.51 EPS versus a $0.50 estimate and revenue of $205.75 million versus $169.14 million expected.

Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report)'s share price traded down 7.7% during trading on Wednesday. The stock traded as low as $18.00 and last traded at $18.00. 673 shares were traded during trading, a decline of 98% from the average daily volume of 42,432 shares. The stock had previously closed at $19.50.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. B. Riley Financial assumed coverage on Neo Performance Materials in a research note on Wednesday, September 2nd. They set a "buy" rating for the company. BMO Capital Markets reiterated an "outperform" rating on shares of Neo Performance Materials in a research report on Monday, July 13th. Jefferies Financial Group raised Neo Performance Materials to a "strong-buy" rating in a research note 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 assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy".

Neo Performance Materials Trading Down 4.9%

The firm has a market capitalization of $831.05 million and a P/E ratio of -1,809.00. The company has a current ratio of 2.06, a quick ratio of 1.00 and a debt-to-equity ratio of 0.22. The company's fifty day moving average is $23.45 and its 200-day moving average is $22.79.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, topping 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 business had revenue of $205.75 million during the quarter, compared to analysts' expectations of $169.14 million. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, sell-side analysts anticipate 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.

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