NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Short Interest Up 73.1% in April

Key Points

• Short interest jumped 73.1% to 3,885 shares as of April 15, with a days-to-cover ratio of 0.2 and only 0.2% of the company's stock sold short.
• NCS Multistage reported a strong quarterly beat, posting $1.60 EPS versus $0.70 expected and $50.63M revenue versus $43.60M estimates, and sell-side analysts have an average rating of "Strong Buy" with a projected 4.58 EPS for the year.
• The stock traded around $78.13 (market cap $204.7M) with a P/E of 9.13, a 52-week range of $28.64–$87.36, robust liquidity (current ratio 4.27) and very low leverage (debt-to-equity 0.04), while institutional investors own about 70.9% of the shares.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 3,885 shares, a growth of 73.1% from the March 31st total of 2,244 shares. Based on an average daily trading volume, of 19,072 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company's stock are sold short.

NCS Multistage Stock Performance

Shares of NASDAQ:NCSM traded down $0.64 during midday trading on Monday, reaching $78.13. The company had a trading volume of 15,604 shares, compared to its average volume of 21,573. The stock has a market cap of $204.70 million, a P/E ratio of 9.13 and a beta of 0.34. The company's 50 day moving average price is $59.76 and its 200 day moving average price is $46.51. 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 has a 52-week low of $28.64 and a 52-week high of $87.36.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.70 by $0.90. NCS Multistage had a net margin of 12.93% and a return on equity of 10.32%. The business had revenue of $50.63 million for the quarter, compared to analyst estimates of $43.60 million. As a group, sell-side analysts anticipate that NCS Multistage will post 4.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. NewEdge Advisors LLC raised its stake in NCS Multistage by 46.5% in the fourth quarter. NewEdge Advisors LLC now owns 10,383 shares of the company's stock valued at $410,000 after purchasing an additional 3,296 shares in the last quarter. Empowered Funds LLC lifted its holdings in NCS Multistage by 5.5% in the 4th quarter. Empowered Funds LLC now owns 19,853 shares of the company's stock worth $784,000 after buying an additional 1,042 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of NCS Multistage by 3.6% during the fourth 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. Truffle Hound Capital LLC purchased a new stake in NCS Multistage in the fourth quarter worth $1,462,000. Finally, Dimensional Fund Advisors LP raised its holdings in NCS Multistage by 20.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 21,044 shares of the company's stock worth $832,000 after purchasing an additional 3,571 shares in the last quarter. Hedge funds and other institutional investors own 70.91% of the company's stock.

Wall Street Analyst Weigh In

NCSM has been the topic of a number of analyst reports. Weiss Ratings raised shares of NCS Multistage from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 23rd. Zacks Research upgraded shares of NCS Multistage from a "hold" rating to a "strong-buy" rating in a report on Monday, March 9th. Finally, Wall Street Zen downgraded shares of NCS Multistage from a "strong-buy" rating to a "buy" rating in a research report on Sunday, April 19th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, NCS Multistage has an average rating of "Strong Buy".

About NCS Multistage

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.