NCS Multistage Holdings, Inc. (NCSM) Reaches New 1-Year Low Following Weak Earnings

Shares of NCS Multistage Holdings, Inc. (NASDAQ:NCSM) hit a new 52-week low during mid-day trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $16.20 and last traded at $20.74, with a volume of 92200 shares traded. The stock had previously closed at $21.23.

The company reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.03).

A number of equities research analysts have recently weighed in on NCSM shares. Zacks Investment Research downgraded NCS Multistage Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Citigroup Inc. set a $32.00 price target on NCS Multistage Holdings and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Royal Bank Of Canada set a $30.00 price objective on NCS Multistage Holdings and gave the stock a “buy” rating in a research report on Saturday, October 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $28.50.

A number of institutional investors have recently bought and sold shares of NCSM. Russell Investments Group Ltd. bought a new position in NCS Multistage Holdings during the 2nd quarter worth $1,636,000. Spark Investment Management LLC acquired a new stake in shares of NCS Multistage Holdings in the 2nd quarter valued at $1,596,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of NCS Multistage Holdings in the 2nd quarter valued at $872,000. Rhumbline Advisers acquired a new stake in shares of NCS Multistage Holdings in the 2nd quarter valued at $276,000. Finally, LMR Partners LLP acquired a new stake in shares of NCS Multistage Holdings in the 2nd quarter valued at $557,000. Hedge funds and other institutional investors own 95.24% of the company’s stock.

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About NCS Multistage Holdings

NCS Multistage Holdings, Inc is a provider of engineered products and support services for oil and natural gas well completions and field development strategies. The Company’s products and services include Multistage Unlimited, casing-installed sliding sleeves, downhole frac isolation assembly, AirLock casing buoyancy system and liner hanger systems.

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