Newalta Co. (NAL) Trading Down 0%
Newalta Co. (TSE:NAL) traded down 0% during trading on Tuesday . The stock traded as low as C$0.83 and last traded at C$0.77. 443,876 shares were traded during mid-day trading, an increase of 141% from the average session volume of 184,311 shares. The stock had previously closed at C$0.77.
Several equities research analysts recently commented on the stock. National Bank Financial reduced their price target on shares of Newalta from C$1.75 to C$1.15 and set a “sector perform” rating for the company in a research report on Thursday, November 2nd. TD Securities reiterated a “hold” rating and issued a C$1.00 price objective on shares of Newalta in a research note on Tuesday, October 3rd. Scotiabank dropped their price objective on shares of Newalta from C$2.25 to C$2.00 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Finally, Canaccord Genuity dropped their price objective on shares of Newalta from C$3.00 to C$1.90 and set a “speculative buy” rating on the stock in a research note on Tuesday, August 8th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of C$1.51.
In related news, Director Gordon E. Pridham acquired 50,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of C$1.12 per share, for a total transaction of C$56,000.00.
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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.
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