The stock of Newalta Corporation (TSE:NAL) is a huge mover today! About 232,690 shares traded hands or 10.64% up from the average. Newalta Corporation (TSE:NAL) has risen 16.50% since March 10, 2016 and is uptrending. It has outperformed by 10.89% the S&P500.
The move comes after 9 months negative chart setup for the $189.46 million company. It was reported on Oct, 17 by Barchart.com. We have $1.99 PT which if reached, will make TSE:NAL worth $22.74M less.
Newalta Corporation (TSE:NAL) Ratings Coverage
Out of 6 analysts covering Newalta Corporation (TSE:NAL), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $21 is the highest target while $1.50 is the lowest. The $7.86 average target is 247.79% above today’s ($2.26) stock price. Newalta Corporation has been the topic of 21 analyst reports since July 21, 2015 according to StockzIntelligence Inc. TD Securities maintained Newalta Corporation (TSE:NAL) on Friday, August 7 with “Buy” rating. Stifel Nicolaus downgraded the shares of NAL in a report on Tuesday, January 19 to “Hold” rating. National Bank Canada maintained the shares of NAL in a report on Friday, June 3 with “Outperform” rating. The rating was upgraded by Scotia Capital to “Sector Outperform” on Tuesday, July 21. The stock has “Outperform” rating given by Scotia Capital on Friday, August 7. The stock has “Sector Perform” rating given by National Bank Canada on Thursday, November 5. The company was maintained on Tuesday, November 17 by RBC Capital Markets. Stifel Nicolaus maintained Newalta Corporation (TSE:NAL) rating on Wednesday, August 19. Stifel Nicolaus has “Buy” rating and $21 price target.
More notable recent Newalta Corporation (TSE:NAL) news were published by: Business.Financialpost.com which released: “Newalta Corp has tons of upside if it manages energy downturn â€“ Canaccord” on March 30, 2016, also Business.Financialpost.com with their article: “Newalta Corp shares jump on $300 million deal to sell industrial waste division” published on December 24, 2014, Moodys.com published: “Moody’s downgrades Newalta CFR to Caa1; outlook negative” on March 22, 2016. More interesting news about Newalta Corporation (TSE:NAL) were released by: Marketwired.com and their article: “Newalta Completes Sale of Industrial Division” published on February 27, 2015 as well as Reuters.com‘s news article titled: “BRIEF-Newalta Corp qtrly loss per share $0.26” with publication date: August 03, 2016.
Newalta Corporation is a Canada-based well-known provider of engineered environmental solutions to the gas and oil industry. The company has a market cap of $189.46 million. The Company’s divisions include Heavy Oil and Oilfield. It currently has negative earnings. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.
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