Shares of Platform Specialty Products Corp (NYSE:PAH) have fallen heavily today, even though there has been no news released concerning the company. While some of this move can be attributed to the market as a whole taking a hit today, other indications are showing that the stock is highly oversold, meaning some see this an an opportune time to jump onboard.
It will be interesting to follow this stock as the week unfolds to see if the fall continues or if it rebounds. The stock is down 23.37% or $1.68 following the news, hitting $5.51 per share. About 5.52 million shares traded hands or 28.37% up from the average. PAH has declined 71.52% since July 2, 2015 and is downtrending. It has underperformed the S&P500 by 62.05%.
From a total of 3 analysts covering Platform Specialty Products Corporation (NYSE:PAH) stock, 1 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 33% of the ratings are positive. The highest target price is $27 while the lowest target price is $12. The mean of all analyst targets is $16 which is 190.38% above today’s ($5.51) stock price. Platform Specialty Products Corporation was the topic of 8 analyst reports since August 17, 2015 according to the firm StockzIntelligence Inc. Credit Suisse reinitiated shares on December 3 with a “Neutral” rating.
The institutional sentiment decreased to 1.44 in Q2 2015. It’s down 1.27, from 2.71 in 2015Q2. The ratio is negative, as 46 funds sold all their Platform Specialty Products Corp shares they owned while 39 reduced their positions. 27 funds bought stakes while 95 increased their total positions. Institutions now own 190.01 million shares which is 4.03% more than the previous share count of 182.66 million in 2015Q2.
T2 Partners Management Lp holds 9.23% of its total portfolio in Platform Specialty Products Corp, equating to 367,320 shares. Levasseur Capital Partners Llc owns 404,748 shares representing 5.26% of their total US portfolio. Moreover, Incline Global Management Llc has 4.97% of their total portfolio invested in the company, equating to 1.78 million shares. The New York-based Tyrian Investments L.P. has a total of 4.78% of their portfolio invested in the stock. Consulta Ltd, a United Kingdom-based fund reported 3.50 million shares owned.
Platform Specialty Products Corporation produces and sells specialty chemical products in the Americas, Asia, and Europe. The companyÂ’s Performance Materials segment manufactures and markets plating products that are used to plate holes; final finishes, which are used on printed circuit boards; circuit formation products to promote adhesion and form circuit patterns; oxides that are used in the fabrication of multilayer circuit boards; and pre-treatment and cleaning solutions. It also provides functional conversion coatings; electroless nickel products, which are applied to metal and plastic surfaces; decorative plating products; hard-coated films; production and drilling fluids; and drilling fluids that are used in subsea control systems, as well as technical and support services. This segment serves electronics, industrial, and offshore industries. Its Graphic Solutions segment produces and markets photopolymers through a line of flexographic plates for use in the commercial packaging and printing industries. This segmentÂ’s products include solid sheet printing elements, which are used in the flexographic printing and platemaking processes; liquid photopolymers that are used to produce printing plates for transferring images onto commercial packaging; and printing equipment, which are thermal plate processing systems. The companyÂ’s AgroSolutions segment provides proven plant health and pest control products to growers. Its products include adjuvants, biosolutions, ectoparasiticides, fungicides, herbicides, home and garden products comprising chloropyrifos, insecticides, miticides, plant growth regulators, and seed treatments, as well as honey bee protective miticides and veterinary vaccines. The company was formerly known as Platform Acquisition Holdings Limited and changed its name to Platform Specialty Products Corporation in October 2013. Platform Specialty Products Corporation was founded in 1922 and is headquartered in Miami, Florida.