Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Down - Time to Sell?

Key Points

• Neo Performance Materials shares fell 2.9%, opening at $20.43 versus a previous close of $21.934 and most recently trading at $20.35 on light volume.
• Analyst sentiment remains broadly positive: the stock has an average “Buy” rating, despite Zacks Research downgrading it to “Hold”; other firms maintained or issued bullish ratings.
• The company exceeded quarterly expectations, reporting $0.51 in EPS versus $0.50 expected and revenue of $205.75 million versus estimates of $169.14 million. Analysts forecast full-year EPS of $1.38.

Shares of Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $21.9340, but opened at $20.43. Neo Performance Materials shares last traded at $20.35, with a volume of 2,495 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NOPMF shares. Zacks Research lowered Neo Performance Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Jefferies Financial Group upgraded Neo Performance Materials to a "strong-buy" rating in a report on Friday, September 25th. BMO Capital Markets reissued an "outperform" rating on shares of Neo Performance Materials in a research report on Monday, July 13th. Finally, B. Riley Financial assumed coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy".

Neo Performance Materials Stock Down 2.9%

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 has a market capitalization of $934.88 million and a P/E ratio of -2,035.00. The firm's 50 day moving average price is $24.04 and its two-hundred day moving average price is $22.59.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.01. Neo Performance Materials had a net margin of 0.26% and a return on equity of 11.52%. The business had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Neo Performance Materials Inc. will post 1.38 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.