Primeenergy Resources Corp (NASDAQ: PNRG) suffers from exceptional negative changes in investment behavior: the stock’s recent price decline challenged its longer term uptrend, and negative upside/downside volume developed.
Meaningful negative changes in Primeenergy Resources Corp (NASDAQ: PNRG) fundamentals have recently occurred: 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
PNRG’s future returns on capital are forecasted to be above the cost of capital. Accordingly, the company is expected to continue to be an important Value Builder.
Primeenergy Resources has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Primeenergy Resources has a good Power Rating of 84 and a very high Appreciation Score of 94, and the Highest Value Trend Rating results.
Recent Price Action
Primeenergy Resources Corp (NASDAQ: PNRG) stock declined modestly by -1.5% on 1/17/24. The stock closed at $97.55. However, unusually low trading volume at 61% of normal accompanied the decline. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -4.8% during the last week.
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