Nuverra Environmental Solutions Inc (AMEX:NES)
May 24th, 2019
Nuverra Environmental Solutions Inc finished Friday’s trading session down 7.07%, a ($0.34) decrease to close on $4.47. Sadly, in addition to dropping NES ended up closing the day at a new 52 week low.As well as the drop in value, Nuverra Environmental Solutions Inc hit a new 52 week low of $4.47, breaking the previous low of $4.72 from earlier this month. Nuverra Environmental Solutions Inc swung 14.77% between high and low. Despite the drop in value, trading volumes were solid at 302.00% of normal which can indicate investor opportunities. Be aware that the Altman Z-Score1 (An indicator of the probability for a 2-year bankruptcy) is below the recommended threshold of 1.8%, and calculated to be 0.55.
NES was outperformed by the rest of the Energy sector which went up 0.15%.
The market sectors were mixed Friday with a majority of the sectors trending up. Financials saw the biggest increase of the day (0.77%), while the Consumer Staples sector saw the biggest drop (-0.40%). Information Technology has seen the biggest year-to-date gain of 17.86%.
Financials saw the biggest turn-around compared to its 5-day performance (-1.60%), as it went up by 0.77%. Utilities saw a turn-around from its 5-day performance of 2.37% trading down -0.21%.
- Financials, up 0.77%.
- Materials, up 0.50%.
- Real Estate, up 0.15%.
- Energy, up 0.15%.
- Consumer Discretionary, up 0.14%.
- Healthcare, up 0.12%.
- Industrials, up 0.05%.
- Information Technology, up 0.05%.
- Communication Services, up 0.01%.
- Utilities, down -0.21%.
- Consumer Staples, down -0.40%.
Nuverra Environmental Solutions Inc Info
Nuverra Environmental Solutions, Inc. provides water logistics and oilfield services to customers focused on the development and ongoing production of oil and natural gas from shale formations in the United States. The company’s services include the delivery, collection, and disposal of solid and liquid materials that are used in and generated by the drilling, completion, and ongoing production of shale oil and natural gas in the Bakken, Marcellus, Utica, and Haynesville shale areas. It also provides exploration and production customers seeking fresh water acquisition, temporary or permanent water transmission and storage, transportation, or disposal of fresh flowback; produces water in connection with shale oil and natural gas hydraulic fracturing operation; and services for water pit excavations, well site preparation, and well site remediation. In addition, the company owns an approximately 60-mile underground twin pipeline network in the Haynesville shale for the collection of produced water and the delivery of fresh water; and a fleet of approximately 525 heavy duty trucks, including 55 specialty trucks and 470 water trucks used for delivery and collection, and approximately 2,225 storage tanks. Further, it owns or leases 48 operating saltwater disposal wells in the Bakken, Marcellus/Utica, and Haynesville shale areas. The company serves domestic and international oil and natural gas companies, foreign national oil and natural gas companies, and independent oil and natural gas production companies. The company was formerly known as Heckmann Corporation and changed its name to Nuverra Environmental Solutions, Inc. in May 2013. The company is headquartered in Scottsdale, Arizona. On May 1, 2017, Nuverra Environmental Solutions, Inc., along with its affiliates, filed a voluntary petition for reorganization under Chapter 11 in the United States Bankruptcy Court for the District of Delaware.
All amounts in USD unless otherwise indicated
(1) The Altman Z-Score calculation was first published in 1968 by Edward I. Altman, and is used for predicting the probability that a firm will go into bankruptcy within two years. An Altman Z-Score below 1.8 (Remember that Nuverra Environmental Solutions Inc’s score is 0.55) is the trigger to be alert for this situation. Some analysts believe this score is less relevant for some companies, in particular companies operating to accumulate users that may run at huge losses to scale up.
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