Nine Energy Service, Inc. (NYSE:NINE) Sees Large Decrease in Short Interest

Nine Energy Service, Inc. (NYSE:NINE) saw a significant drop in short interest during 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 shares of the company are sold short. Based on an average trading volume of 4,138,459 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 4,138,459 shares, the days-to-cover ratio is currently 0.6 days. Currently, 5.9% of the shares of the company are sold short.

Nine Energy Service Stock Performance

NINE stock traded down $0.05 during mid-day trading on Friday, reaching $0.59. 5,043,654 shares of the stock traded hands, compared to its average volume of 3,757,569. Nine Energy Service has a one year low of $0.29 and a one year high of $1.55. The stock has a market capitalization of $25.46 million, a PE ratio of -0.59 and a beta of 2.22. The business has a 50-day moving average price of $0.43 and a two-hundred day moving average price of $0.56.

Nine Energy Service (NYSE:NINE) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.05). The company had revenue of $132.03 million for the quarter, compared to the consensus estimate of $139.16 million. On average, equities analysts expect that Nine Energy Service will post -1.12 earnings per share for the current fiscal year.

Institutional Trading of Nine Energy Service

Several institutional investors and hedge funds have recently made changes to their positions in NINE. Truist Financial Corp bought a new position in shares of Nine Energy Service in the second quarter worth about $73,000. Two Sigma Investments LP purchased a new stake in Nine Energy Service in the 3rd quarter valued at about $47,000. Finally, GSA Capital Partners LLP boosted its position 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 valued at $176,000 after buying an additional 31,562 shares during the period. 57.61% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.