NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Large Growth in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the target of a significant increase in short interest in the month of April. As of April 15th, there was short interest totaling 3,885 shares, an increase of 73.1% from the March 31st total of 2,244 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 19,072 shares, the days-to-cover ratio is presently 0.2 days.

NCS Multistage Stock Performance

NASDAQ:NCSM traded down $0.64 during trading hours on Monday, reaching $78.13. The company had a trading volume of 15,604 shares, compared to its average volume of 21,573. The firm has a market cap of $204.70 million, a price-to-earnings ratio of 9.13 and a beta of 0.34. The company has a current ratio of 4.27, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04. The firm’s 50 day moving average price is $59.76 and its 200-day moving average price is $46.51. NCS Multistage has a 52 week low of $28.64 and a 52 week high of $87.36.

NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings results on Wednesday, March 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.90. The firm had revenue of $50.63 million for the quarter, compared to the consensus estimate of $43.60 million. NCS Multistage had a return on equity of 10.32% and a net margin of 12.93%. On average, analysts forecast that NCS Multistage will post 4.58 EPS for the current year.

Hedge Funds Weigh In On NCS Multistage

Institutional investors and hedge funds have recently made changes to their positions in the business. Tucker Asset Management LLC purchased a new position in shares of NCS Multistage in the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. grew its holdings in NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock valued at $44,000 after purchasing an additional 668 shares during the last quarter. Heron Bay Capital Management purchased a new position in NCS Multistage in the 3rd quarter worth about $222,000. NewEdge Advisors LLC boosted its holdings in shares of NCS Multistage by 3,774.4% in the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock valued at $241,000 after purchasing an additional 7,964 shares during the period. Finally, GSA Capital Partners LLP bought a new position in NCS Multistage in the third quarter worth approximately $296,000. 70.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NCSM shares. Zacks Research raised NCS Multistage from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 9th. Weiss Ratings raised shares of NCS Multistage from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Finally, Wall Street Zen cut shares of NCS Multistage from a “strong-buy” rating to a “buy” rating in a report on Sunday, April 19th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Buy”.

NCS Multistage Company Profile

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.