NCS Multistage (NASDAQ:NCSM) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

NCS Multistage Holdings, Inc. (NASDAQ:NCSM)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $47.42 and traded as high as $51.69. NCS Multistage shares last traded at $51.69, with a volume of 3,379 shares traded.

Analysts Set New Price Targets

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

NCS Multistage Trading Up 2.4%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.65 and a current ratio of 4.27. The stock has a market capitalization of $135.43 million, a P/E ratio of 10.64 and a beta of 0.17. The business has a 50 day simple moving average of $47.42 and a 200-day simple moving average of $51.12.

NCS Multistage (NASDAQ:NCSM) last announced its earnings results on Thursday, July 30th. The company reported ($1.71) earnings per share 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 for the quarter, compared to the consensus estimate of $37.60 million. On average, analysts predict that NCS Multistage Holdings, Inc. will post 2.53 EPS for the current year.

Institutional Investors Weigh In On NCS Multistage

Several large investors have recently modified their holdings of NCSM. Truffle Hound Capital LLC acquired a new position in shares of NCS Multistage in the 4th quarter worth $1,462,000. UBS Group AG increased its position in shares of NCS Multistage by 9,535.4% in the third 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 in the last quarter. Walleye Capital LLC acquired a new stake in shares of NCS Multistage during the first quarter valued at approximately $575,000. NewEdge Advisors LLC raised its holdings in shares of NCS Multistage by 3,774.4% during the second 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. Finally, Lazard Asset Management LLC purchased a new stake in shares of NCS Multistage in the 1st quarter valued at approximately $372,000. 70.91% of the stock is owned by 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.