NPK International (NYSE:NPKI) Hits New 52-Week High Following Earnings Beat

NPK International Inc. (NYSE:NPKI)’s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $9.40 and last traded at $9.27, with a volume of 216247 shares. The stock had previously closed at $8.89.

The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $68.23 million for the quarter, compared to analysts’ expectations of $59.75 million. NPK International had a positive return on equity of 8.32% and a negative net margin of 62.59%.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of NPK International in a report on Monday, May 5th.

Insider Buying and Selling

In related news, VP Lori Briggs sold 8,005 shares of the company’s stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $8.57, for a total transaction of $68,602.85. Following the transaction, the vice president directly owned 260,626 shares of the company’s stock, valued at approximately $2,233,564.82. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 19,722 shares of company stock valued at $167,234. Insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On NPK International

Several hedge funds and other institutional investors have recently made changes to their positions in NPKI. Amalgamated Bank bought a new stake in NPK International in the 2nd quarter worth about $25,000. CWM LLC purchased a new position in shares of NPK International in the 2nd quarter worth approximately $27,000. Nisa Investment Advisors LLC bought a new position in shares of NPK International in the second quarter valued at approximately $45,000. GAMMA Investing LLC bought a new position in shares of NPK International in the second quarter valued at approximately $66,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of NPK International during the 2nd quarter valued at $90,000. 80.81% of the stock is owned by institutional investors.

NPK International Stock Performance

The company has a 50 day simple moving average of $8.60. The company has a quick ratio of 2.37, a current ratio of 2.60 and a debt-to-equity ratio of 0.02. The firm has a market cap of $758.14 million, a P/E ratio of -5.34 and a beta of 2.19.

NPK International Company Profile

NPK International 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.