Newpark Resources (NYSE:NR) Shares Gap Down – Should You Sell?

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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. HC Wainwright reiterated 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Price 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’s fifty day moving average is $7.13 and its two-hundred day moving average is $7.59. The stock has a market cap of $629.50 million, a price-to-earnings ratio of 29.12 and a beta of 2.87.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Ancora Advisors LLC increased its holdings in Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after purchasing an additional 418,570 shares during the period. Russell Investments Group Ltd. raised its holdings in Newpark Resources by 210.2% in the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after acquiring an additional 349,935 shares in the last quarter. American Century Companies Inc. grew its holdings in Newpark Resources by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after acquiring an additional 313,451 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Newpark Resources by 439.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company’s stock valued at $2,420,000 after purchasing an additional 284,421 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Newpark Resources by 161.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 199,066 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.