Nine Energy Service, Inc. (NYSEAMERICAN:NINE) Sees Significant Increase in Short Interest

Nine Energy Service, Inc. (NYSEAMERICAN:NINE) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 225,210 shares, an increase of 58.6% from the August 15th total of 141,980 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 139,221 shares, the short-interest ratio is currently 1.6 days.

Nine Energy Service Price Performance

Shares of NYSEAMERICAN:NINE traded up $0.10 during trading on Thursday, hitting $10.01. 30,016 shares of the stock were exchanged, compared to its average volume of 65,769. Nine Energy Service has a 1-year low of $7.32 and a 1-year high of $13.23. The company has a current ratio of 2.34, a quick ratio of 1.68 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average price of $10.89.

Hedge Funds Weigh In On Nine Energy Service

A hedge fund recently bought a new stake in Nine Energy Service stock. Cygnus Capital Advisors LLC purchased a new position in shares of Nine Energy Service, Inc. (NYSEAMERICAN:NINE) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 500,358 shares of the company’s stock, valued at approximately $6,510,000. Nine Energy Service makes up approximately 4.4% of Cygnus Capital Advisors LLC’s holdings, making the stock its 4th largest position. Cygnus Capital Advisors LLC owned 1.16% of Nine Energy Service at the end of the most recent quarter. Hedge funds and other institutional investors own 57.61% of the company’s stock.

Nine Energy Service Company Profile

Nine Energy Service, Inc is an oilfield services company that provides completion and production solutions to exploration and production companies. Its services are designed to support the construction, completion, stimulation and ongoing production of oil and natural gas wells.

The company’s offerings have included wireline services, cementing, coiled tubing, completion tools and other well-intervention services. Nine Energy Service also provides downhole completion technologies, including tools used in multistage hydraulic fracturing and well isolation, as well as related equipment and technical support.

Headquartered in Houston, Texas, Nine Energy Service has served customers primarily in North American oil and gas-producing regions.