Nine Energy Service, Inc. (NYSE:NINE) Short Interest Up 29.6% in December

Nine Energy Service, Inc. (NYSE:NINE) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 3,123,498 shares, an increase of 29.6% from the December 15th total of 2,409,400 shares. Approximately 7.5% of the shares of the stock are short sold. Based on an average trading volume of 2,314,214 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 2,314,214 shares, the short-interest ratio is presently 1.3 days. Approximately 7.5% of the shares of the stock are short sold.

Nine Energy Service Trading Down 6.1%

Shares of NYSE:NINE traded down $0.03 during mid-day trading on Monday, reaching $0.47. The stock had a trading volume of 1,589,726 shares, compared to its average volume of 2,682,417. The business’s 50 day moving average price is $0.41 and its 200 day moving average price is $0.58. Nine Energy Service has a 1 year low of $0.29 and a 1 year high of $1.78. The company has a market cap of $20.42 million, a P/E ratio of -0.47 and a beta of 2.22.

Nine Energy Service (NYSE:NINE) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $132.03 million during the quarter, compared to analyst estimates of $139.16 million. Analysts predict that Nine Energy Service will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Nine Energy Service in a report on Wednesday, October 8th. Wall Street Zen cut shares of Nine Energy Service to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nine Energy Service has a consensus rating of “Sell”.

Hedge Funds Weigh In On Nine Energy Service

Several institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new stake in shares of Nine Energy Service in the third quarter worth approximately $47,000. Truist Financial Corp bought a new position in Nine Energy Service in the 2nd quarter valued at $73,000. Finally, GSA Capital Partners LLP grew 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 acquiring an additional 31,562 shares during the last quarter. Institutional investors own 57.61% of the company’s stock.

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.