Short Interest in Newpark Resources, Inc. (NYSE:NR) Decreases By 22.6%

Newpark Resources, Inc. (NYSE:NR) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 1,060,000 shares, a decline of 22.6% from the October 31st total of 1,370,000 shares. Based on an average trading volume of 672,800 shares, the short-interest ratio is presently 1.6 days. Currently, 1.4% of the company’s stock are short sold.

Newpark Resources Stock Up 0.8 %

Shares of Newpark Resources stock traded up $0.07 during trading on Friday, hitting $8.36. 424,791 shares of the stock were exchanged, compared to its average volume of 679,327. The stock has a market cap of $723.11 million, a price-to-earnings ratio of -4.57 and a beta of 2.87. The firm’s 50-day moving average price is $7.19 and its 200 day moving average price is $7.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Institutional Trading of Newpark Resources

A number of institutional investors have recently bought and sold shares of the business. Catalina Capital Group LLC lifted its position in shares of 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 worth $118,000 after buying an additional 1,360 shares during the last quarter. Captrust Financial Advisors raised its stake in Newpark Resources by 10.8% during the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 1,430 shares in the last quarter. Ironwood Investment Management LLC lifted its position in Newpark Resources by 1.0% in the second quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock valued at $1,209,000 after acquiring an additional 1,442 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its stake in Newpark Resources by 3.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 43,203 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 1,517 shares in the last quarter. Finally, First Bank & Trust grew its holdings in shares of Newpark Resources by 10.0% during the third quarter. First Bank & Trust now owns 21,704 shares of the oil and gas company’s stock worth $150,000 after purchasing an additional 1,965 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

About Newpark Resources

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.