NCS Multistage (NASDAQ:NCSM) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

NCS Multistage Holdings, Inc. (NASDAQ:NCSM)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $47.53 and traded as low as $47.08. NCS Multistage shares last traded at $48.64, with a volume of 6,478 shares.

Analysts Set New Price Targets

NCSM has been the topic of a number of recent analyst reports. Weiss Ratings cut shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Zacks Research upgraded shares of NCS Multistage from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen raised shares of NCS Multistage to a “hold” rating in a research report on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

NCS Multistage Stock Down 1.8%

The firm has a market capitalization of $125.11 million, a price-to-earnings ratio of 9.83 and a beta of 0.17. The company has a quick ratio of 3.48, a current ratio of 4.27 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $47.63 and its 200 day moving average price is $50.72.

NCS Multistage (NASDAQ:NCSM) last released its earnings results on Thursday, July 30th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.83). NCS Multistage had a net margin of 7.61% and a return on equity of 2.40%. The firm had revenue of $38.36 million during the quarter, compared to analyst estimates of $37.60 million. As a group, research analysts forecast that NCS Multistage Holdings, Inc. will post 2.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of NCS Multistage by 397,500.0% during the first quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock worth $246,000 after purchasing an additional 3,975 shares during the period. Lazard Asset Management LLC acquired a new position in NCS Multistage in the 1st quarter worth approximately $372,000. Renaissance Technologies LLC increased its holdings in NCS Multistage by 17.5% in the 1st quarter. Renaissance Technologies LLC now owns 12,744 shares of the company’s stock worth $788,000 after buying an additional 1,900 shares during the period. Walleye Capital LLC purchased a new position in NCS Multistage during the 1st quarter worth approximately $575,000. Finally, Dimensional Fund Advisors LP raised its position in NCS Multistage by 14.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 23,993 shares of the company’s stock worth $1,484,000 after buying an additional 2,949 shares during the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

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.