Nine Energy Service, Inc. (NYSEAMERICAN:NINE) Sees Significant Drop in Short Interest

Nine Energy Service, Inc. (NYSEAMERICAN:NINE) saw a significant drop in short interest in May. As of May 15th, there was short interest totaling 31,685 shares, a drop of 38.6% from the April 30th total of 51,593 shares. Based on an average daily trading volume, of 40,946 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

Separately, Zacks Research raised shares of Nine Energy Service to a “hold” rating in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Nine Energy Service currently has a consensus rating of “Hold”.

Nine Energy Service Stock Performance

NINE traded down $0.08 during trading on Thursday, reaching $11.03. 6,132 shares of the company’s stock were exchanged, compared to its average volume of 1,343,774. Nine Energy Service has a fifty-two week low of $10.96 and a fifty-two week high of $11.40. The firm has a fifty day moving average of $9.64.

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.