Stocks of Newpark Resources Inc. (NR) are poised to climb above their peers

Newpark Resources Inc. (NYSE: NR) stock jumped 2.56% on Tuesday to $4.01 against a previous-day closing price of $3.91. With 0.52 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.63 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $4.0850 whereas the lowest price it dropped to was $3.8900. The 52-week range on NR shows that it touched its highest point at $4.91 and its lowest point at $2.38 during that stretch. Beta for the stock currently stands at 2.83.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NR was up-trending over the past week, with a rise of 7.22%, but this was down by -2.67% over a month. Three-month performance dropped to -4.30% while six-month performance rose 2.56%. The stock lost -2.91% in the past year, while it has lost -3.37% so far this year.

Float and Shares Shorts:

At present, 88.57 million NR shares are outstanding with a float of 81.69 million shares on hand for trading. On Apr 27, 2023, short shares totaled 0.79 million, which was 0.92% higher than short shares on Mar 30, 2023. In addition to Mr. Matthew S. Lanigan as the firm’s Pres, CEO & Director, Mr. Gregg S. Piontek serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 71.29% of NR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 37.12% of NR, in contrast to 32.78% held by mutual funds. Shares owned by individuals account for 12.09%. As the largest shareholder in NR with 10.19% of the stake, Threadneedle Asset Management Ltd holds 9,136,149 shares worth 9,136,149. A second-largest stockholder of NR, Adage Capital Management LP, holds 6,013,651 shares, controlling over 6.70% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NR, holding 5,408,350 shares or 6.03% stake. With a 5.49% stake in NR, the Threadneedle Invt. Funds ICVC – A is the largest stakeholder. A total of 4,925,753 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.73% of NR stock, is the second-largest Mutual Fund holder. It holds 2,449,089 shares valued at 9.8 million. iShares Russell 2000 ETF holds 2.03% of the stake in NR, owning 1,822,088 shares worth 7.29 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NR reported revenue of $194.14M and operating income of $1.69M. The EBITDA in the recently reported quarter was $1.69M and diluted EPS was -$0.08.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NR analysts setting a high price target of $4.00 and a low target of $4.00, the average target price over the next 12 months is $4.00. Based on these targets, NR could drop -0.25% to reach the target high and fall by -0.25% to reach the target low. Reaching the average price target will result in a decline of -0.25% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded NR stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 10,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 42 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 803,951 while 184,461 shares were sold.

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