Short Interest in NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Expands By 475.0%

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 target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 2,300 shares, agrowthof475.0% from the June 30th total of 400 shares. Based on an average trading volume of 7,300 shares, the short-interest ratio is currently 0.3 days. Approximately0.3% of the company's stock are short sold. Approximately0.3% of the company's stock are short sold. Based on an average trading volume of 7,300 shares, the short-interest ratio is currently 0.3 days.

Insider Buying and Selling

In other news, Director Valerie A. Mitchell sold 1,969 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $30.16, for a total value of $59,385.04. Following the transaction, the director owned 23,551 shares in the company, valued at approximately $710,298.16. This represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On NCS Multistage

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC purchased a new stake in shares of NCS Multistage in the fourth quarter valued at $247,000. Bailard Inc. purchased a new stake in shares of NCS Multistage during the first quarter worth $249,000. Renaissance Technologies LLC bought a new position in shares of NCS Multistage during the 4th quarter valued at $261,000. Dimensional Fund Advisors LP raised its holdings in NCS Multistage by 14.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 13,679 shares of the company's stock worth $355,000 after acquiring an additional 1,689 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of NCS Multistage by 7.3% during the 1st quarter. Empowered Funds LLC now owns 21,489 shares of the company's stock worth $752,000 after acquiring an additional 1,455 shares during the period. Hedge funds and other institutional investors own 70.91% of the company's stock.

Analysts Set New Price Targets

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 Stock Performance

NASDAQ NCSM traded down $0.31 during trading hours on Wednesday, reaching $31.52. The stock had a trading volume of 1,006 shares, compared to its average volume of 9,141. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.86 and a current ratio of 4.66. NCS Multistage has a 52-week low of $16.81 and a 52-week high of $38.95. The stock has a fifty day moving average of $30.51 and a 200 day moving average of $30.23. The stock has a market cap of $80.06 million, a P/E ratio of 6.61 and a beta of 0.71.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of ($1.46) by $1.80. NCS Multistage had a net margin of 7.18% and a return on equity of 12.50%. The firm had revenue of $36.45 million for the quarter, compared to the consensus estimate of $27.60 million.

NCS Multistage Company Profile

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.