Newalta Co. (NAL) Shares Down 3.4%
Newalta Co. (TSE:NAL)’s share price fell 3.4% during mid-day trading on Tuesday . The stock traded as low as C$0.86 and last traded at C$0.86. 9,405 shares traded hands during trading, a decline of 94% from the average session volume of 155,813 shares. The stock had previously closed at C$0.89.
Several research firms recently issued reports on NAL. National Bank Financial decreased their target price on Newalta from C$2.00 to C$1.75 and set a “sector perform” rating on the stock in a research note on Friday, August 4th. Scotiabank decreased their target price on 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 decreased their target price on 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of C$2.04.
The stock’s market cap is $74.93 million. The stock has a 50-day moving average of $1.00 and a 200-day moving average of $1.64.
In other news, Director Gordon E. Pridham bought 50,000 shares of Newalta 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.
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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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