Newalta Co. (NAL) Shares Down 8.2%
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.
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.