Short Interest in NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Drops By 49.5%

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 1,249 shares, a drop of 49.5% from the January 15th total of 2,471 shares. Based on an average daily volume of 4,766 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the company’s shares are sold short. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 4,766 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On NCS Multistage

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG raised its holdings in NCS Multistage by 9,535.4% in the 3rd quarter. UBS Group AG now owns 23,703 shares of the company’s stock worth $1,210,000 after acquiring an additional 23,457 shares during the last quarter. Inspire Advisors LLC purchased a new position in NCS Multistage in the 2nd quarter worth about $430,000. NewEdge Advisors LLC lifted its stake in NCS Multistage by 3,774.4% during the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock valued at $241,000 after acquiring an additional 7,964 shares during the period. Citadel Advisors LLC purchased a new position in shares of NCS Multistage during the third quarter valued at approximately $299,000. Finally, GSA Capital Partners LLP purchased a new stake in NCS Multistage in the third quarter worth approximately $296,000. Institutional investors own 70.91% of the company’s stock.

NCS Multistage Stock Down 1.9%

Shares of NASDAQ NCSM traded down $0.75 during trading on Thursday, reaching $38.55. The company had a trading volume of 615 shares, compared to its average volume of 7,672. NCS Multistage has a 12-month low of $23.89 and a 12-month high of $53.69. The company has a quick ratio of 2.65, a current ratio of 4.39 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average is $39.85 and its 200 day moving average is $39.90. The stock has a market cap of $97.96 million, a PE ratio of 8.49 and a beta of 0.57.

Analysts Set New Price Targets

Several research firms have weighed in on NCSM. Singular Research raised NCS Multistage to a “strong-buy” rating in a research report on Tuesday, November 11th. Wall Street Zen upgraded NCS Multistage from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NCS Multistage in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.