Primeenergy Resources Corp (NASDAQ: PNRG) has recently experienced extremely meaningful negative changes in investment behavior: negative upside/downside volume developed, and the stock fell on very heavy volume.
Primeenergy Resources Corp (NASDAQ: PNRG) suffers from important negative changes in fundamentals: significant quarterly sales deceleration occurred, and significant quarterly earnings deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, PNRG is expected to continue to be an important Value Builder.
Primeenergy Resources has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. Primeenergy Resources has a slightly positive Power Rating of 63 and a very high Appreciation Score of 94, and the Highest Value Trend Rating results.
Recent Price Action
Primeenergy Resources Corp (NASDAQ: PNRG) stock closed at $97.10 on 3/4/24 after a decline of -3.1%. Moreover, this decline was accompanied by exceptionally high trading volume at 258% of normal. The stock has risen 1.0% during the last week and has been strong relative to the market over the last nine months.
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