Nine Energy Service Inc. (NYSE:NINE) shares traded -17.92% lower at $8.43 on Wall Street last session.
In accordance with the data, 2 analysts cover Nine Energy Service Inc. (NYSE:NINE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.50 and a low of $9.50, we find $12.50. Given the previous closing price of $10.27, this indicates a potential upside of 21.71 percent. NINE stock price is now 71.26% away from the 50-day moving average and 155.50% away from the 200-day moving average. The market capitalization of the company currently stands at $293.95M.
It has been rated a hold by 1 analysts and a buy by 1. Brokers who have rated the stock have averaged $12.50 as their price target over the next twelve months.
With the price target enhanced from $1 to $3, Citigroup Upgraded its rating from Sell to Neutral for Nine Energy Service Inc. (NYSE: NINE)., while ‘Goldman’ rates the stock as ‘Neutral’.
In other news, Frazier Warren Lynn, 10% Owner sold 75,000 shares of the company’s stock on Nov 17. The stock was sold for $750,630 at an average price of $10.01. Upon completion of the transaction, the 10% Owner now directly owns 3,771,045 shares in the company, valued at $31.79 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, 10% Owner Frazier Warren Lynn sold 72,489 shares of the business’s stock. A total of $717,134 was realized by selling the stock at an average price of $9.89. This leaves the insider owning 3,846,045 shares of the company worth $32.42 million. Insiders disposed of 753,744 shares of company stock worth roughly $6.35 million over the past 1 year. A total of 4.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NINE stock. A new stake in Nine Energy Service Inc. shares was purchased by SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC during the first quarter worth $591,000. ACADIAN ASSET MANAGEMENT LLC invested $548,000 in shares of NINE during the first quarter. In the first quarter, OCCUDO QUANTITATIVE STRATEGIES LP acquired a new stake in Nine Energy Service Inc. valued at approximately $365,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in NINE for approximately $363,000. QUADRATURE CAPITAL LTD purchased a new stake in NINE valued at around $308,000 in the second quarter. In total, there are 52 active investors with 52.70% ownership of the company’s stock.
Nine Energy Service Inc. (NYSE: NINE) opened at $10.17 on Monday. During the past 12 months, Nine Energy Service Inc. has had a low of $0.79 and a high of $11.00. The fifty day moving average price for NINE is $4.92 and a two-hundred day moving average price translates $3.30 for the stock.
The latest earnings results from Nine Energy Service Inc. (NYSE: NINE) was released for Jun, 2022. According to the Oil & Gas Equipment & Services Company, earnings per share came in at -$0.01, beating analysts’ expectations of -$0.12 by 0.11. This compares to -$0.53 EPS in the same period last year. The net profit margin was -1.80% and return on equity was 22.90% for NINE. The company reported revenue of $167.43 million for the quarter, compared to $92.87 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 80.29 percent. For the current quarter, analysts expect NINE to generate $149.07M in revenue.
Nine Energy Service Inc.(NINE) Company Profile
Nine Energy Service, Inc. operates as an onshore completion services provider that targets unconventional oil and gas resource development across North American basins and internationally. It offers cementing services, which consist of blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well. The company also provides a portfolio of completion tools, such as liner hangers and accessories, fracture isolation packers, frac sleeves, stage one prep tools, frac plugs, casing flotation tools, specialty open hole float equipment, disk subs, composite cement retainers, and centralizers that provide pinpoint frac sleeve system technologies. In addition, it offers wireline services consisting of plug-and-perf completions, which is a multistage well completion technique for cased-hole wells that consists of deploying perforating guns and isolation tools to a specified depth; and coiled tubing services, which perform wellbore intervention operations utilizing a continuous steel pipe that is transported to the wellsite wound on a large spool in lengths of up to 30,000 feet. The company was formerly known as NSC-Tripoint, Inc. and changed its name to Nine Energy Service, Inc. in October 2011. Nine Energy Service, Inc. was incorporated in 2011 and is headquartered in Houston, Texas.