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

Nine Energy Service, Inc. (NYSE:NINE) saw a large 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. Currently, 7.5% of the company’s stock are short sold. Based on an average daily volume of 2,314,214 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 2,314,214 shares, the days-to-cover ratio is presently 1.3 days. Currently, 7.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NINE. Weiss Ratings restated a “sell (e+)” rating on shares of Nine Energy Service in a report on Wednesday, October 8th. Wall Street Zen lowered Nine Energy Service to a “strong sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Nine Energy Service Stock Performance

Shares of NINE stock opened at $0.47 on Tuesday. Nine Energy Service has a 52-week low of $0.29 and a 52-week high of $1.78. The firm has a market capitalization of $20.16 million, a PE ratio of -0.47 and a beta of 2.22. The stock has a fifty day simple moving average of $0.41 and a two-hundred day simple moving average of $0.58.

Nine Energy Service (NYSE:NINE) last released its quarterly earnings data on Thursday, October 30th. The company reported ($0.35) earnings per share 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. On average, sell-side analysts forecast that Nine Energy Service will post -1.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Nine Energy Service

A number of institutional investors have recently added to or reduced their stakes in NINE. Truist Financial Corp purchased a new stake in Nine Energy Service in the 2nd quarter worth $73,000. GSA Capital Partners LLP grew its position in shares of Nine Energy Service by 12.8% in the third quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock valued at $176,000 after purchasing an additional 31,562 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in shares of Nine Energy Service during the third quarter worth about $47,000. Institutional investors and hedge funds 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.