Neo Performance Materials Inc. (OTCMKTS:NOPMF) Short Interest Update

Neo Performance Materials Inc. (OTCMKTS:NOPMF) was the target of a significant decline in short interest in May. As of May 28th, there was short interest totalling 2,500 shares, a decline of 88.5% from the May 13th total of 21,800 shares. Based on an average trading volume of 10,300 shares, the short-interest ratio is presently 0.2 days.

Shares of OTCMKTS:NOPMF traded up $0.34 during trading on Friday, hitting $15.23. 2,031 shares of the stock were exchanged, compared to its average volume of 6,292. The company has a fifty day simple moving average of $15.24. Neo Performance Materials has a 12-month low of $5.02 and a 12-month high of $18.00.

A number of brokerages have weighed in on NOPMF. Stifel Nicolaus lifted their price objective on Neo Performance Materials from C$24.00 to C$26.00 and gave the company a “buy” rating in a report on Friday, May 14th. Canaccord Genuity lifted their price objective on Neo Performance Materials from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 18th. Raymond James lifted their price objective on Neo Performance Materials from $21.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, March 23rd. Finally, Scotiabank lifted their price objective on Neo Performance Materials from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Friday, May 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $22.20.

About Neo Performance Materials

Neo Performance Materials Inc manufactures and sells rare earth 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.

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