Newalta Co. (TSE:NAL)’s share price dropped 8.2% during trading on Monday . The stock traded as low as C$0.89 and last traded at C$0.89. Approximately 63,790 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 155,813 shares. The stock had previously closed at C$0.97.

NAL has been the topic of a number of research analyst reports. Canaccord Genuity cut their target price on shares of Newalta from C$3.00 to C$1.90 and set a “speculative buy” rating on the stock in a research report on Tuesday, August 8th. National Bank Financial lowered their price target on shares of Newalta from C$2.00 to C$1.75 and set a “sector perform” rating for the company in a report on Friday, August 4th. Scotiabank lowered their price target on shares of Newalta from C$2.25 to C$2.00 and set a “sector perform” rating for the company in a report on Friday, August 4th. Finally, TD Securities reiterated a “hold” rating and issued a C$1.00 price target on shares of Newalta in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Newalta has an average rating of “Hold” and a consensus target price of C$1.66.

The company’s 50 day moving average price is $0.92 and its 200 day moving average price is $1.53. The stock’s market cap is $73.16 million.

In other Newalta news, Director Gordon E. Pridham purchased 50,000 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of C$1.12 per share, with a total value of C$56,000.00.

WARNING: “Newalta Co. (NAL) Shares Down 8.2%” was posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this story can be read at https://www.watchlistnews.com/newalta-co-nal-shares-down-8-2/1606524.html.

About Newalta

Newalta Corporation is a Canada-based provider of engineered environmental solutions to the oil and gas industry. The Company’s segments include Heavy Oil and Oilfield. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.

Receive News & Ratings for Newalta Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Newalta Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.