Zacks Investment Research Downgrades NRC Group (NRCG) to Hold

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Zacks Investment Research cut shares of NRC Group (NYSEAMERICAN:NRCG) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “NRC Group Holdings Corp. is a provider of comprehensive environmental, compliance and waste management services to the marine and rail transportation, general industrial and energy markets. NRC Group Holdings Corp., formerly known as Hennessy Capital Acquisition Corp. III, is based in NY, United States. “

NRC Group stock opened at $8.41 on Wednesday. NRC Group has a 52 week low of $6.41 and a 52 week high of $10.66.

NRC Group (NYSEAMERICAN:NRCG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). The company had revenue of $100.49 million during the quarter, compared to analysts’ expectations of $84.00 million.

Institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in NRC Group in the 4th quarter valued at about $17,521,000. Millennium Management LLC purchased a new stake in NRC Group in the 4th quarter valued at about $856,000. BlackRock Inc. purchased a new stake in NRC Group in the 1st quarter valued at about $391,000. Finally, Citigroup Inc. purchased a new stake in NRC Group in the 1st quarter valued at about $59,000.

About NRC Group

NRC Group Holdings Corp. provides various environmental, compliance, and waste management services. The company operates through four segments: Domestic Environmental Services, Sprint, Domestic Standby Services, and International Services. It provides industrial cleaning, hazardous waste packaging and management, waste transportation and disposal, salvage support, petroleum storage tank cleaning and removal, pipeline repair, land and marine based emergency response, specialized equipment rental, site remediation, and marine cleaning and marine services.

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