Insider Buying: Newalta Co. (NAL) Director Acquires 50,000 Shares of Stock
Newalta Co. (TSE:NAL) Director Gordon E. Pridham purchased 50,000 shares of the business’s stock in a transaction that occurred 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.
Shares of Newalta Co. (TSE:NAL) remained flat at $1.09 during trading on Friday. The stock had a trading volume of 158,775 shares. Newalta Co. has a 52 week low of $1.03 and a 52 week high of $2.88. The company’s market capitalization is $96.08 million. The company’s 50-day moving average price is $1.32 and its 200 day moving average price is $1.93.
Several equities analysts recently commented on NAL shares. National Bank Financial cut their price target on shares of Newalta from C$2.00 to C$1.75 and set a “sector perform” rating on the stock in a report on Friday, August 4th. Scotiabank dropped their target price 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 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 note on Tuesday. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of C$2.04.
Newalta Company Profile
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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