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

Newpark Resources, Inc. (NYSE:NR - Get Free Report) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 1,060,000 shares, a drop of 22.6% from the October 31st total of 1,370,000 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily volume of 672,800 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analysts Forecast Growth

NR has been the topic of several recent research reports. StockNews.com lowered shares of Newpark Resources from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Newpark Resources currently has an average rating of "Moderate Buy" and an average price target of $11.00.

Institutional Investors Weigh In On Newpark Resources

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in Newpark Resources by 3.2% in the third quarter. State Street Corp now owns 2,274,460 shares of the oil and gas company's stock valued at $15,762,000 after purchasing an additional 69,802 shares during the last quarter. Royce & Associates LP increased its stake in Newpark Resources by 2.9% in the third quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company's stock valued at $15,187,000 after purchasing an additional 61,128 shares in the last quarter. Geode Capital Management LLC raised its holdings in Newpark Resources by 8.6% in the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company's stock worth $13,454,000 after purchasing an additional 154,210 shares during the period. American Century Companies Inc. raised its holdings in Newpark Resources by 19.9% in the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company's stock worth $15,720,000 after purchasing an additional 313,451 shares during the period. Finally, Pennant Select LLC boosted its position in shares of Newpark Resources by 65.0% during the third quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company's stock worth $6,861,000 after purchasing an additional 390,000 shares in the last quarter. 80.81% of the stock is owned by institutional investors.

Newpark Resources Trading Up 0.8 %

NR stock traded up $0.07 during midday trading on Friday, reaching $8.36. The stock had a trading volume of 424,791 shares, compared to its average volume of 666,569. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65. The firm has a market cap of $723.14 million, a price-to-earnings ratio of -4.53 and a beta of 2.87. The business has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $7.62.

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.