NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Significant Growth in Short Interest

Key Points

• NCS Multistage Holdings, Inc. saw a significant increase in short interest, rising 475.0% from 400 shares at the end of June to 2,300 shares by July 15th.
• The company reported a quarterly earnings per share (EPS) of $0.34, surpassing expectations by $1.80, with revenues of $36.45 million compared to the estimated $27.60 million.
• Wall Street analysts upgraded NCS Multistage from a "buy" rating to a "strong-buy", indicating positive market sentiment for the company's future performance.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 2,300 shares, anincreaseof475.0% from the June 30th total of 400 shares. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is presently 0.3 days. Approximately0.3% of the shares of the stock are short sold. Approximately0.3% of the shares of the stock are short sold. Based on an average daily volume of 7,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On NCS Multistage

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of 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. Dimensional Fund Advisors LP increased its stake in shares of NCS Multistage by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,679 shares of the company's stock valued at $355,000 after buying an additional 1,689 shares during the period. Bailard Inc. acquired a new stake in shares of NCS Multistage in the 1st quarter valued at $249,000. Geode Capital Management LLC acquired a new stake in shares of NCS Multistage in the 4th quarter valued at $247,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of NCS Multistage in the 4th quarter valued at $261,000. 70.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded NCS Multistage from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 7th.

NCS Multistage Trading Up 3.2%

Shares of NCSM opened at $31.64 on Friday. The stock has a fifty day moving average price of $30.51 and a two-hundred day moving average price of $30.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.86 and a current ratio of 4.57. NCS Multistage has a 52-week low of $16.66 and a 52-week high of $38.95. The company has a market cap of $80.37 million, a price-to-earnings ratio of 6.63 and a beta of 0.71.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.46) by $1.80. NCS Multistage had a return on equity of 12.68% and a net margin of 7.18%. The firm had revenue of $36.45 million during the quarter, compared to the consensus estimate of $27.60 million.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and construction, and field development strategies in the United States, Canada, and internationally. It offers fracturing systems, which include casing-installed sliding sleeves, downhole frac isolation assemblies, and sand jet perforating products; enhanced recovery products, such as sliding sleeve, as well as Terrus system, an injection control device; repeat precision products comprising composite frac plugs and bridge plugs, single-use disposable setting tools, express systems, and related products; chemical and radioactive tracer diagnostics services; and well construction products, including AirLock casing buoyancy system, Vecturon and Vectraset liner hanger systems, and Toe initiation sleeves.

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