NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Short Interest Up 88.1% in September

Key Points

• NCS Multistage Holdings, Inc. reported a dramatic 88.1% increase in short interest in September, totaling 11,100 shares as of September 30th.
• The company's stock rose 1.4% to $41.95, with a market capitalization of approximately $106.55 million and a P/E ratio of 8.79.
• Insider trading activity includes Director Valerie A. Mitchell selling 1,969 shares at an average price of $30.16, reducing her ownership by 7.72%.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 11,100 shares, an increase of 88.1% from the September 15th total of 5,900 shares. Based on an average daily trading volume, of 13,400 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.7% of the shares of the company are short sold. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 13,400 shares, the days-to-cover ratio is currently 0.8 days.

NCS Multistage Trading Up 1.4%

NASDAQ NCSM traded up $0.59 during trading hours on Tuesday, hitting $41.95. 2,692 shares of the company's stock were exchanged, compared to its average volume of 11,051. The business's 50 day moving average is $42.91 and its 200-day moving average is $34.72. NCS Multistage has a 12-month low of $17.30 and a 12-month high of $53.69. The firm has a market capitalization of $106.55 million, a P/E ratio of 8.79 and a beta of 0.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.83 and a current ratio of 4.66.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last released its 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 return on equity of 12.50% and a net margin of 7.18%.The firm had revenue of $36.45 million for the quarter, compared to the consensus estimate of $27.60 million.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NCSM shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of NCS Multistage in a report on Wednesday, October 8th. Zacks Research lowered NCS Multistage from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Insiders Place Their Bets

In other NCS Multistage news, Director Valerie A. Mitchell sold 1,969 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $30.16, for a total value of $59,385.04. Following the completion of the sale, the director owned 23,551 shares in the company, valued at approximately $710,298.16. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company's stock.

Hedge Funds Weigh In On NCS Multistage

Large investors have recently modified their holdings of the company. Bailard Inc. purchased a new position in shares of NCS Multistage in the 1st quarter worth about $249,000. Empowered Funds LLC raised its holdings 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 worth $752,000 after purchasing an additional 1,455 shares during the period. NewEdge Advisors LLC raised its holdings in shares of NCS Multistage by 3,774.4% in the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company's stock worth $241,000 after purchasing an additional 7,964 shares during the period. Finally, Inspire Advisors LLC acquired a new stake in shares of NCS Multistage in the second quarter valued at about $430,000. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.