NCS Multistage (NASDAQ:NCSM) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded NCS Multistage (NASDAQ:NCSM) from a "strong-buy" to a "hold," while other analysts are mixed but the MarketBeat consensus remains a "Buy."
• The company posted a sharp quarterly earnings miss — EPS of ($0.14) vs. $1.33 expected and revenue of $45.64M vs. $51.22M — and the stock fell about 8.1%, opening at $40.93 with a market cap near $107M.
• Institutional investors own 70.91% of the shares, and analysts still project NCSM will post about 3.42 EPS for the current year.

NCS Multistage (NASDAQ:NCSM - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. 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. Weiss Ratings raised shares of NCS Multistage from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy".

NCS Multistage Stock Down 8.1%

NCSM opened at $40.93 on Monday. The stock has a market capitalization of $107.24 million, a P/E ratio of 5.92 and a beta of 0.25. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 5.35. NCS Multistage has a one year low of $28.64 and a one year high of $87.36. The business's 50-day simple moving average is $62.40 and its 200-day simple moving average is $47.36.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of $1.33 by ($1.47). NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%.The firm had revenue of $45.64 million for the quarter, compared to analyst estimates of $51.22 million. Analysts anticipate that NCS Multistage will post 3.42 EPS for the current year.

Hedge Funds Weigh In On NCS Multistage

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new position in NCS Multistage in the 4th quarter valued at $34,000. PNC Financial Services Group Inc. lifted its stake in shares of NCS Multistage by 342.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company's stock worth $44,000 after acquiring an additional 668 shares during the period. Heron Bay Capital Management purchased a new stake in shares of NCS Multistage in the third quarter valued at about $222,000. Bank of New York Mellon Corp purchased a new stake in shares of NCS Multistage in the first quarter valued at about $223,000. Finally, NewEdge Advisors LLC increased its stake in shares of NCS Multistage by 3,774.4% during the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company's stock worth $241,000 after acquiring an additional 7,964 shares during the period. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

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