Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Down - What's Next?

Key Points

• Neo Performance Materials shares gapped down from a previous close of $19.6960 to open at $19.00, then last traded at $19.9140 on volume of 1,431 shares.
• Analyst sentiment remains positive overall, with one Strong Buy, two Buy ratings and one Hold rating, producing a consensus rating of Buy.
• The company exceeded quarterly expectations, reporting $0.51 earnings per share versus $0.50 expected and revenue of $205.75 million versus estimates of $169.14 million.

Neo Performance Materials Inc. (OTCMKTS:NOPMF - Get Free Report)'s share price gapped down before the market opened on Monday. The stock had previously closed at $19.6960, but opened at $19.00. Neo Performance Materials shares last traded at $19.9140, with a volume of 1,431 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NOPMF shares. B. Riley Financial began coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They set a "buy" rating on the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of Neo Performance Materials in a research note on Monday, July 13th. Zacks Research cut shares of Neo Performance Materials from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 8th. Finally, Jefferies Financial Group upgraded Neo Performance Materials to a "strong-buy" rating in a research note on Friday, September 25th. One research 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 data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

Neo Performance Materials Stock Performance

The stock has a market cap of $910.15 million and a P/E ratio of -1,981.00. The company has a fifty day moving average price of $23.66 and a 200 day moving average price of $22.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.00.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. During the same period in the prior year, the firm earned $0.13 earnings per share. On average, equities analysts expect 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.

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