Cygnus Capital Advisors LLC Buys New Stake in Nine Energy Service, Inc. $NINE

Cygnus Capital Advisors LLC purchased a new position in Nine Energy Service, Inc. (NYSEAMERICAN:NINE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 500,358 shares of the company’s stock, valued at approximately $6,510,000. Nine Energy Service comprises 4.4% of Cygnus Capital Advisors LLC’s investment portfolio, making the stock its 4th largest position.

Nine Energy Service Stock Performance

NYSEAMERICAN:NINE opened at $10.25 on Tuesday. The firm’s fifty day moving average is $11.13. Nine Energy Service, Inc. has a fifty-two week low of $7.32 and a fifty-two week high of $13.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.68 and a current ratio of 2.34.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Nine Energy Service to a “hold” rating in a research report on Tuesday, May 19th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Nine Energy Service Profile

Nine Energy Service is an oilfield services company that provides completion and production solutions to upstream oil and gas operators. The company focuses on delivering field services and rental equipment used in well completion and production phases of drilling programs. Its client base includes exploration and production companies operating in onshore resource plays.

Nine Energy’s offerings center on specialized equipment and on-site technical services designed to support well completions and ongoing production operations.