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

Neo Performance Materials Inc. (OTCMKTS:NOPMF) shares gapped down before the market opened on Friday. The stock had previously closed at $19.03, but opened at $17.42. Neo Performance Materials shares last traded at $17.42, with a volume of 390 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on NOPMF shares. B. Riley Financial started coverage on shares of Neo Performance Materials in a report on Wednesday, September 2nd. They set a “buy” rating for the company. Zacks Research downgraded Neo Performance Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. BMO Capital Markets restated an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. Finally, Jefferies Financial Group upgraded Neo Performance Materials to a “strong-buy” rating in a research note on Friday, September 25th. One equities research 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Neo Performance Materials Stock Performance

The company has a debt-to-equity ratio of 0.22, a current ratio of 2.06 and a quick ratio of 1.00. The stock has a 50 day moving average of $22.02 and a two-hundred day moving average of $22.93. The stock has a market capitalization of $786.72 million and a PE ratio of -1,712.50.

Neo Performance Materials (OTCMKTS:NOPMF) last posted its earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. The company had revenue of $205.75 million for the quarter, compared to analyst estimates of $169.14 million. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%. During the same quarter in the prior year, the company earned $0.13 earnings per share. Research analysts expect that Neo Performance Materials Inc. will post 1.38 EPS for the current fiscal year.

About Neo Performance Materials

Neo Performance Materials Inc (OTCMKTS:NOPMF) is a Canada-based advanced materials company that produces specialty materials derived primarily from rare earth elements and other critical metals. Its products are used in applications including automotive systems, consumer electronics, industrial equipment, renewable energy technologies and other high-performance products.

The company operates through businesses focused on permanent-magnet materials, rare earth chemicals and oxides, and specialty metals and powders.