The stock of Nine Energy Service Inc. (NYSE:NINE) last traded at $4.45, up 6.97% from the previous session.
Data from the available sources indicates that Nine Energy Service Inc. (NYSE:NINE) is covered by 2 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $7.00 and a low of $6.00, we find $6.50. Given the previous closing price of $4.16, this indicates a potential upside of 56.25 percent. NINE stock price is now 29.15% away from the 50-day moving average and -36.99% away from the 200-day moving average. The market capitalization of the company currently stands at $133.28M.
In total, 1 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $6.50 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).
In other news, Willis Darryl Keith, Director bought 3,355 shares of the company’s stock on May 16. The stock was bought for $9,998 at an average price of $2.98. Upon completion of the transaction, the Director now directly owns 25,332 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 03, Fox Ann G sold 15,485 shares of the business’s stock. A total of $53,888 was realized by selling the stock at an average price of $3.48. This leaves the insider owning 635,914 shares of the company worth $2.83 million. Insiders disposed of 1,679,312 shares of company stock worth roughly $7.47 million over the past 1 year. A total of 4.60% 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 GENDELL JEFFREY L during the first quarter worth $8,172,000. DEUTSCHE BANK AG invested $2,641,000 in shares of NINE during the first quarter. In the first quarter, MACKAY SHIELDS LLC acquired a new stake in Nine Energy Service Inc. valued at approximately $1,594,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in NINE for approximately $693,000. BARCLAYS PLC purchased a new stake in NINE valued at around $343,000 in the second quarter. In total, there are 87 active investors with 52.70% ownership of the company’s stock.
With an opening price of $4.1900 on Monday morning, Nine Energy Service Inc. (NYSE: NINE) set off the trading day. During the past 12 months, Nine Energy Service Inc. has had a low of $2.03 and a high of $17.10. The fifty day moving average price for NINE is $3.4552 and a two-hundred day moving average price translates $7.0700 for the stock.
The latest earnings results from Nine Energy Service Inc. (NYSE: NINE) was released for Mar, 2023. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.03, missing analysts’ expectations of $0.08 by -0.05. This compares to -$0.23 EPS in the same period last year. The net profit margin was 2.40% and return on equity was -53.60% for NINE. The company reported revenue of $163.41 million for the quarter, compared to $116.94 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 39.74 percent. For the current quarter, analysts expect NINE to generate $161.9M 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 in 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 open hole and cemented completion tool products, such as liner hangers and accessories, fracture isolation packers, frac sleeves, stage one prep tools, 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.
