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

Neo Performance Materials Inc. (OTCMKTS:NOPMF) gapped down before the market opened on Tuesday . The stock had previously closed at $12.69, but opened at $11.85. Neo Performance Materials shares last traded at $12.0750, with a volume of 2,056 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Neo Performance Materials to a “hold” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Neo Performance Materials has an average rating of “Hold”.

Neo Performance Materials Stock Down 6.2%

The firm’s 50 day simple moving average is $13.62 and its 200-day simple moving average is $11.47. The company has a market capitalization of $470.50 million and a PE ratio of 35.79.

Neo Performance Materials (OTCMKTS:NOPMF) last posted its earnings results on Friday, November 14th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The business had revenue of $122.21 million for the quarter, compared to analyst estimates of $109.50 million.

About Neo Performance Materials

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets; and bonded magnets.