NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Large Decrease in Short Interest

Key Points

• Short interest plunged 61.7% in March to 2,244 shares (about 0.1% of shares sold short), leaving a days-to-cover ratio of just 0.1 days.
• NCS Multistage materially beat the quarter with EPS $1.60 vs. $0.70 expected and revenue $50.63M vs. $43.6M, and shows solid fundamentals including a market cap of $165.5M, P/E 7.38, high liquidity (current ratio 4.27) and very low debt-to-equity (0.04).
• Analysts have moved ratings toward bullishness (average rating: Strong Buy), and institutional ownership is high at about 70.9% with several funds increasing their stakes.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 2,244 shares, a drop of 61.7% from the March 15th total of 5,853 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 31,764 shares, the days-to-cover ratio is presently 0.1 days.

NCS Multistage Stock Performance

NCSM stock traded down $2.95 on Friday, hitting $63.16. The company's stock had a trading volume of 12,195 shares, compared to its average volume of 26,452. The firm has a 50 day moving average of $52.60 and a two-hundred day moving average of $44.67. NCS Multistage has a 1 year low of $25.09 and a 1 year high of $75.57. The stock has a market cap of $165.48 million, a price-to-earnings ratio of 7.38 and a beta of 0.34. The company has a current ratio of 4.27, a quick ratio of 2.91 and a debt-to-equity ratio of 0.04.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.90. The company had revenue of $50.63 million for the quarter, compared to analysts' expectations of $43.60 million. NCS Multistage had a net margin of 12.93% and a return on equity of 10.32%.

Hedge Funds Weigh In On NCS Multistage

Several institutional investors have recently bought and sold shares of the company. Truffle Hound Capital LLC acquired a new position in NCS Multistage in the 4th quarter valued at $1,462,000. Bridgeway Capital Management LLC increased its stake in NCS Multistage by 3.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 29,853 shares of the company's stock valued at $1,179,000 after buying an additional 1,042 shares during the period. UBS Group AG increased its stake in NCS Multistage by 9,535.4% in the 3rd quarter. UBS Group AG now owns 23,703 shares of the company's stock valued at $1,210,000 after buying an additional 23,457 shares during the period. Empowered Funds LLC increased its stake in NCS Multistage by 7.3% in the 1st quarter. Empowered Funds LLC now owns 21,489 shares of the company's stock valued at $752,000 after buying an additional 1,455 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in NCS Multistage by 20.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,044 shares of the company's stock valued at $832,000 after buying an additional 3,571 shares during the period. 70.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research upgraded NCS Multistage from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 9th. Wall Street Zen raised shares of NCS Multistage from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of NCS Multistage from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

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.

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