Neo Performance Materials Inc. (OTCMKTS:NOPMF) Short Interest Up 72.3% in July

Neo Performance Materials Inc. (OTCMKTS:NOPMF) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 556,698 shares, an increase of 72.3% from the June 30th total of 323,174 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average trading volume of 58,452 shares, the days-to-cover ratio is currently 9.5 days.

Neo Performance Materials Trading Down 2.7%

Shares of OTCMKTS:NOPMF opened at $23.62 on Friday. The stock has a market capitalization of $1.09 billion and a PE ratio of -90.85. The company’s 50-day moving average price is $25.36 and its two-hundred day moving average price is $20.07. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.76 and a quick ratio of 0.76. Neo Performance Materials has a one year low of $11.00 and a one year high of $31.94.

Neo Performance Materials (OTCMKTS:NOPMF) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.19 by $0.15. The firm had revenue of $154.96 million during the quarter, compared to analysts’ expectations of $127.33 million. Neo Performance Materials had a positive return on equity of 8.03% and a negative net margin of 1.98%. On average, equities analysts forecast that Neo Performance Materials will post 1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets reiterated an “outperform” rating on shares of Neo Performance Materials in a report on Monday, July 13th. Zacks Research upgraded Neo Performance Materials from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

About Neo Performance Materials

Neo Performance Materials Inc is a global supplier of advanced materials, specializing in the production and processing of rare earth and rare metal–based functional materials. Headquartered in Toronto, Canada, the company serves diverse high-tech markets by developing proprietary compounds and alloys that deliver key performance attributes in demanding applications. Its product portfolio includes magnetic powders, rare earth oxides and metals, phosphors, metal alloys, precious metal chemical compounds, and performance catalysts.

Neo Performance Materials operates through distinct business segments focused on Rare Earth & Magnetic Solutions, Advanced Industrial Materials, and Precious Metals & Chemicals.