Newpark Resources (NYSE:NR) Shares Gap Down – What’s Next?

Shares of Newpark Resources, Inc. (NYSE:NR) gapped down before the market opened on Friday . The stock had previously closed at $7.55, but opened at $7.09. Newpark Resources shares last traded at $7.20, with a volume of 100,916 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NR. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. The company has a market cap of $629.50 million, a PE ratio of 29.12 and a beta of 2.87. The firm’s fifty day moving average is $7.13 and its 200 day moving average is $7.59.

Institutional Investors Weigh In On Newpark Resources

Several institutional investors have recently bought and sold shares of NR. CWM LLC lifted its holdings in Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Newpark Resources in the first quarter valued at about $86,000. Ground Swell Capital LLC purchased a new position in shares of Newpark Resources in the second quarter worth about $91,000. SG Americas Securities LLC acquired a new position in Newpark Resources during the third quarter worth about $116,000. Finally, Catalina Capital Group LLC grew its stake in Newpark Resources by 10.6% during the 2nd quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 1,360 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.