Neo Performance Materials (OTCMKTS:NOPMF) Shares Gap Down – Here’s Why

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $22.22, but opened at $21.25. Neo Performance Materials shares last traded at $21.25, with a volume of 348 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Neo Performance Materials in a research report on Wednesday, September 2nd. They issued a “buy” rating for the company. BMO Capital Markets reiterated an “outperform” rating on shares of Neo Performance Materials in a research note on Monday, July 13th. B Riley assumed coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They issued a “buy” rating on the stock. Finally, Zacks Research downgraded shares of Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Neo Performance Materials has an average rating of “Moderate Buy”.

Neo Performance Materials Price Performance

The stock has a 50 day moving average price of $25.51 and a two-hundred day moving average price of $22.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.76. The company has a market capitalization of $971.17 million and a PE ratio of -2,114.00.

Neo Performance Materials (OTCMKTS:NOPMF) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.50 by $0.01. Neo Performance Materials had a return on equity of 12.14% 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 business posted $0.13 EPS. Equities analysts forecast that Neo Performance Materials Inc. will post 1.4 earnings per share for the current year.

Neo Performance Materials Company Profile

Neo Performance Materials Inc is a Canadian advanced materials company that produces specialty materials used in automotive, electronics, clean energy, healthcare, aerospace and industrial applications. Its operations are organized into three business units: Magnequench, Neo Chemicals & Oxides, and Neo Rare Metals.

Magnequench manufactures rare-earth magnetic powders and bonded permanent magnets, including materials used in motors, sensors and other compact electronic components. Neo Chemicals & Oxides produces rare-earth compounds, oxides and related materials, while Neo Rare Metals supplies high-purity specialty metals and compounds, including materials used in electronics, advanced manufacturing and other technology applications.

Neo Performance Materials serves customers internationally through manufacturing, processing and research operations in North America, Europe and Asia.