NCS Multistage (NASDAQ:NCSM) Stock Price Down 5.4% - Here's Why

Key Points

• NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a stock price decrease of 5.4%, closing at $42.39 after trading as low as $40.53.
• Analysts have downgraded the stock's rating to "hold", with Zacks Research lowering it from a "strong-buy" rating.
• The company reported a significant earnings surprise, with $0.34 earnings per share surpassing estimates of ($1.46), indicating strong quarterly performance.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report)'s stock price dropped 5.4% during trading on Tuesday . The company traded as low as $40.53 and last traded at $42.39. Approximately 19,453 shares changed hands during trading, a decline of 8% from the average daily volume of 21,109 shares. The stock had previously closed at $44.82.

Wall Street Analyst Weigh In

NCSM has been the topic of a number of analyst reports. Zacks Research cut NCS Multistage from a "strong-buy" rating to a "hold" rating in a report on Friday. Weiss Ratings reiterated a "hold (c-)" rating on shares of NCS Multistage in a report on Saturday, September 27th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, NCS Multistage has a consensus rating of "Hold".

NCS Multistage Stock Down 5.4%

The company has a current ratio of 4.66, a quick ratio of 2.83 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $107.67 million, a PE ratio of 8.89 and a beta of 0.75. The firm has a 50-day moving average of $41.23 and a two-hundred day moving average of $34.38.

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

Insider Buying and Selling

In other NCS Multistage news, Director Valerie A. Mitchell sold 1,969 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $30.16, for a total value of $59,385.04. Following the transaction, the director directly owned 23,551 shares of the company's stock, valued at $710,298.16. This trade represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.

Institutional Trading of NCS Multistage

Large investors have recently modified their holdings of the business. NewEdge Advisors LLC grew 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 valued at $241,000 after acquiring an additional 7,964 shares in the last quarter. Bailard Inc. acquired a new stake in shares of NCS Multistage during the first quarter valued at about $249,000. Inspire Advisors LLC acquired a new stake in shares of NCS Multistage during the second quarter valued at about $430,000. Finally, Empowered Funds LLC grew its stake in shares of NCS Multistage by 7.3% during the first quarter. Empowered Funds LLC now owns 21,489 shares of the company's stock valued at $752,000 after acquiring an additional 1,455 shares in the last quarter. 70.91% of the stock is currently owned by institutional investors and hedge funds.

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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