Nine Energy Service, Inc. (NYSE:NINE) Short Interest Update

Nine Energy Service, Inc. (NYSE:NINE) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 2,445,502 shares, a drop of 21.7% from the December 31st total of 3,123,498 shares. Currently, 5.9% of the company’s stock are short sold. Based on an average daily trading volume, of 4,138,459 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 4,138,459 shares, the short-interest ratio is currently 0.6 days. Currently, 5.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Nine Energy Service

Hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its stake in Nine Energy Service by 12.8% in the 3rd quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock worth $176,000 after purchasing an additional 31,562 shares in the last quarter. Truist Financial Corp acquired a new position in Nine Energy Service during the 2nd quarter valued at approximately $73,000. Finally, Two Sigma Investments LP acquired a new position in Nine Energy Service during the 3rd quarter valued at approximately $47,000. 57.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NINE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nine Energy Service in a research note on Thursday, January 22nd. Wall Street Zen cut Nine Energy Service to a “strong sell” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nine Energy Service Price Performance

NYSE NINE traded down $0.05 on Friday, hitting $0.59. The stock had a trading volume of 5,043,654 shares, compared to its average volume of 3,757,569. The business’s fifty day moving average price is $0.43 and its 200 day moving average price is $0.56. The stock has a market cap of $25.46 million, a price-to-earnings ratio of -0.59 and a beta of 2.22. Nine Energy Service has a 52-week low of $0.29 and a 52-week high of $1.55.

Nine Energy Service (NYSE:NINE) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The firm had revenue of $132.03 million during the quarter, compared to analysts’ expectations of $139.16 million. As a group, sell-side analysts anticipate that Nine Energy Service will post -1.12 EPS for the current year.

Nine Energy Service Company Profile

Nine Energy Service, Inc (NYSE: NINE) is a Houston, Texas–based oilfield services company specializing in completion and production equipment and services for the upstream oil and gas industry. The company traces its roots to the Keane Group, a wireline and completion?service provider founded in the late 1990s, and was rebranded as Nine Energy Service in 2017 following a corporate realignment. Today, Nine offers an integrated suite of services that spans the full life cycle of a well.

Nine Energy Service’s core offerings include hydraulic fracturing horsepower, high?pressure fluid pumps, nitrogen pumping units, and sand management systems.