Neo Performance Materials Inc. (OTCMKTS:NOPMF) Short Interest Down 88.5% in May

Neo Performance Materials Inc. (OTCMKTS:NOPMF) was the target of a significant decline in short interest during the month of May. As of May 28th, there was short interest totalling 2,500 shares, a decline of 88.5% from the May 13th total of 21,800 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is currently 0.2 days.

Shares of NOPMF stock traded up $0.34 during trading hours on Friday, hitting $15.23. 2,031 shares of the company’s stock were exchanged, compared to its average volume of 6,292. The business’s 50 day moving average price is $15.24. Neo Performance Materials has a fifty-two week low of $5.02 and a fifty-two week high of $18.00.

NOPMF has been the topic of a number of research analyst reports. Raymond James boosted their price target on Neo Performance Materials from $21.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 23rd. Canaccord Genuity boosted their price target on Neo Performance Materials from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 18th. Stifel Nicolaus boosted their price target on Neo Performance Materials from C$24.00 to C$26.00 and gave the stock a “buy” rating in a research note on Friday, May 14th. Finally, Scotiabank upped their target price on Neo Performance Materials from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Friday, May 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $22.20.

Neo Performance Materials Company Profile

Neo Performance Materials Inc manufactures and sells rare earth 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.

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