Market Runner: What’s Next for North American Energy Partners Inc.(USA) After Touching 52-Week High?

Market Runner: What's Next for North American Energy Partners Inc.(USA) After Touching 52 Week High?

The stock of North American Energy Partners Inc.(USA) (NYSE:NOA) hit a new 52-week high and has $8.04 target or 156.00% above today’s $3.14 share price. The 5 months bullish chart indicates low risk for the $95.83 million company. The 1-year high was reported on Nov, 3 by Barchart.com. If the $8.04 price target is reached, the company will be worth $149.49M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 18,523 shares traded hands. North American Energy Partners Inc.(USA) (NYSE:NOA) has risen 48.24% since April 1, 2016 and is uptrending. It has outperformed by 47.03% the S&P500.

According to Zacks Investment Research, “NORTH AMERICAN ENERGY PARTNERS INC. is one of the largest providers of heavy construction, mining, piling and pipeline services in Western Canada. For more than fifty years, NAEP has provided services to large oil, natural gas and resource companies, with a principal focus on the Canadian oil sands. The Company maintains one of the largest independently owned equipment fleets in the region.”

Another recent and important North American Energy Partners Inc.(USA) (NYSE:NOA) news was published by Seekingalpha.com which published an article titled: “North American Energy Partners’ (NOA) CEO Martin Ferron on Q3 2016 Results …” on November 02, 2016.

NOA Company Profile

North American Energy Partners Inc., incorporated on November 28, 2006, provides a range of mining and heavy construction services. The Firm offers its services to clients in the resource development and industrial construction sectors, within Western Canada. The Firm provides construction and activities support services through various stages of an oil sands project’s lifecycle. The Company’s total fleet (owned, leased and rented) includes approximately 380 pieces of diversified heavy construction equipment supported by over 1,750 pieces of ancillary equipment.

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