Neo Performance Materials (TSE:NEO) Stock Price Down 7.1% – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO) fell 7.1% during trading on Thursday . The company traded as low as C$28.00 and last traded at C$28.80. 127,220 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 257,961 shares. The stock had previously closed at C$31.01.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NEO. Stifel Nicolaus boosted their price target on Neo Performance Materials from C$26.00 to C$38.00 in a report on Wednesday, May 13th. BMO Capital Markets boosted their price target on Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$38.00.

Neo Performance Materials Trading Down 8.6%

The company has a current ratio of 1.76, a quick ratio of 1.92 and a debt-to-equity ratio of 41.75. The stock has a 50 day simple moving average of C$25.09 and a 200-day simple moving average of C$21.09. The firm has a market cap of C$1.19 billion, a P/E ratio of -118.08 and a beta of 1.46.

Neo Performance Materials (TSE:NEO) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%.The business had revenue of C$215.44 million for the quarter. On average, equities research analysts expect that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, insider Kevin Morris sold 20,000 shares of Neo Performance Materials stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of C$22.99, for a total value of C$459,800.00. Following the sale, the insider owned 105,966 shares of the company’s stock, valued at C$2,436,158.34. The trade was a 15.88% decrease in their position. 22.38% of the stock is currently owned by insiders.

Neo Performance Materials Company Profile

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.