Short Interest in Neo Performance Materials Inc. (OTCMKTS:NOPMF) Drops By 16.7%

Neo Performance Materials Inc. (OTCMKTS:NOPMF) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 147,300 shares, a drop of 16.7% from the March 15th total of 176,800 shares. Based on an average daily volume of 32,400 shares, the days-to-cover ratio is currently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their price objective on Neo Performance Materials from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Monday, March 18th.

Neo Performance Materials Stock Performance

Shares of NOPMF stock opened at $4.40 on Friday. Neo Performance Materials has a 1-year low of $4.07 and a 1-year high of $7.17. The stock’s fifty day moving average price is $5.00 and its 200 day moving average price is $5.30.

Neo Performance Materials Company Profile

Neo Performance Materials Inc engages in the manufacture and sale of rare earth, magnetic powders, magnets, 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; and bonded magnets.