NR stock rated an Equal weight by CapitalOne


Newpark Resources Inc.’s recent filing unveils that its Director Meer Claudia Michel acquired Company’s shares for reported $7241.0 on Aug 21. In the deal valued at $5.57 per share,1,300 shares were bought. As a result of this transaction, Meer Claudia Michel now holds 82,930 shares worth roughly $ 0.51 million.

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Then, Meer Claudia Michel bought 8,000 shares, generating $42,180 in total proceeds. Upon buying the shares at $5.27, the Director now owns 81,630 shares.

Before that, MINGE JOHN C bought 10,000 shares. Newpark Resources Inc. shares valued at $40,250 were divested by the Director at a price of $4.03 per share. As a result of the transaction, MINGE JOHN C now holds 172,045 shares, worth roughly $1.05 million.

CapitalOne downgraded its Newpark Resources Inc. [NR] rating to an Equal weight from a an Overweight in a research note published on Friday.

Price Performance Review of NR

On Friday, Newpark Resources Inc. [NYSE:NR] saw its stock jump 2.51% to $6.13. On the same session, the stock had its day’s lowest price of $6.02, but rose to a high of $6.238. Over the last five days, the stock has gained 3.55%. Newpark Resources Inc. shares have risen nearly 47.71% since the year began. Nevertheless, the stocks have risen 112.85% over the past one year. While a 52-week high of $6.04 was reached on 09/01/23, a 52-week low of $2.38 was recorded on 05/31/23. SMA at 50 days reached $5.40, while 200 days put it at $4.47. A total of 0.68 million shares were traded, compared to the trading of 0.51 million shares in the previous session.

Levels Of Support And Resistance For NR Stock

The 24-hour chart illustrates a support level at 6.02, which if violated will result in even more drops to 5.91. On the upside, there is a resistance level at 6.24. A further resistance level may holdings at 6.35. The Relative Strength Index (RSI) on the 14-day chart is 74.10, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 9.33%. Stochastics %K at 91.34% indicates the stock is a selling.

How much short interest is there in Newpark Resources Inc.?

A steep rise in short interest was recorded in Newpark Resources Inc. stocks on Aug 14, 2023, growing by 48540.0 shares to a total of 0.34 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.29 million shares. There was a rise of 14.48%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 0.44% of the overall stock float, the days-to-cover ratio (short ratio) rose to 0.51.

Newpark Resources Inc. [NR] – Who Are The Largest Shareholders?

In filings from Adage Capital Management LP, it is revealed that the company now owns 5,484,953 shares, or roughly 6.45% of the outstanding NR shares. In other words, the investor’s shares have fallen by -493,505 from its previous 13-F filing of 5978458.0. Additionally, Dimensional Fund Advisors LP increased 3.52% of its stake after which the total value it holdings stand at $29,332,888, while BlackRock Fund Advisors reduced -3.84% of its stake to hold $28.71 million in the firm. Over the last quarter, Threadneedle Asset Management Ltd purchased 97,507 shares of Newpark Resources Inc., while The Vanguard Group, Inc. bought -154,357 shares. At present, Columbia Management Investment Ad is holding 2,353,891 shares valued at $12.99 million. SSgA Funds Management, Inc. owned 1,749,124 shares of the company at the time of its most recent 13F filing, worth $9.66 million.

According to FactSet, Newpark Resources Inc.’s share price will average $4.00 in the next year, based on opinions of analysts polled by the firm. This is down nearly -33.11 percent from its previous closing price of $5.98. Analysts expect Newpark Resources Inc. stock to reach the higher price of $4.00, while the lowest price estimate is $4.00. However, 1 analyst have rated NR stock as an Overweight in their predictions for 2023.


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