Neo Performance Materials (TSE:NEO) Stock Price Up 2% – Here’s What Happened

Neo Performance Materials Inc. (TSE:NEO) shot up 2% during mid-day trading on Friday . The stock traded as high as C$29.45 and last traded at C$29.08. 147,436 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 253,498 shares. The stock had previously closed at C$28.50.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NEO. Stifel Nicolaus increased their target price on shares of Neo Performance Materials from C$25.50 to C$26.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. BMO Capital Markets set a C$30.00 target price on shares of Neo Performance Materials and gave the stock an “outperform” rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$28.00.

Neo Performance Materials Stock Performance

The company has a market cap of C$1.21 billion, a PE ratio of -121.17 and a beta of 1.46. The business’s 50-day moving average is C$24.28 and its 200 day moving average is C$20.34. The company has a debt-to-equity ratio of 27.06, a quick ratio of 1.92 and a current ratio of 1.83.

Neo Performance Materials (TSE:NEO) last issued its earnings results on Thursday, March 19th. The company reported C$0.01 EPS for the quarter. The company had revenue of C$157.96 million for the quarter. Neo Performance Materials had a negative net margin of 2.13% and a negative return on equity of 2.55%. On average, equities research analysts predict that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kevin Morris sold 20,000 shares of Neo Performance Materials stock in a transaction on Monday, March 23rd. The shares were sold at an average price of C$22.99, for a total value of C$459,800.00. Following the transaction, the insider owned 105,966 shares in the company, valued at C$2,436,158.34. This trade represents 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.