Alert: Negative Investment/Fundamental Signals (1/2/24)-Primeenergy Resources Corp (NASDAQ: PNRG)


Recent exceptional negative changes in investment behavior have affected Primeenergy Resources Corp (NASDAQ: PNRG): negative upside/downside volume developed, and its shorter term price trend turned down.

Primeenergy Resources Corp (NASDAQ: PNRG). Important negative changes in 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 is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.

Primeenergy Resources has a current Value Trend Rating of A (Highest Rating). The Value Trend Rating reflects highly consistent signals from PTR’s two proprietary measures of a stock’s attractiveness. Primeenergy Resources has a very high Power Rating of 87 and a very high Appreciation Score of 93, triggering the Highest Value Trend Rating.

Recent Price Action

On 1/2/24, Primeenergy Resources Corp (NASDAQ: PNRG) stock declined by -4.3%, closing at $101.81. Moreover, trading volume in this decline was unusually high at 193% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -2.9% during the last week.

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