NCS Multistage (NASDAQ:NCSM) Trading Up 2.8% - Still a Buy?

Key Points

• NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a mid-day trading increase of 2.8%, reaching a trading high of $48.68, despite a 42% decrease in average daily volume.
• The company reported a quarterly EPS of $0.34, significantly exceeding analysts' expectations of ($1.46), with revenues of $36.45 million versus projected $27.60 million.
• Recent analyst ratings saw an upgrade from a "buy" to a "strong-buy" by Wall Street Zen, indicating potential optimism about the stock's future performance.

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) shares rose 2.8% during mid-day trading on Tuesday . The stock traded as high as $48.68 and last traded at $48.68. Approximately 11,181 shares traded hands during trading, a decline of 42% from the average daily volume of 19,165 shares. The stock had previously closed at $47.34.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of NCS Multistage from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 7th.

NCS Multistage Stock Performance

The firm's 50-day moving average price is $36.51 and its two-hundred day moving average price is $32.65. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.83 and a current ratio of 4.66. The stock has a market cap of $124.89 million, a price-to-earnings ratio of 10.30 and a beta of 0.71.

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

Insider Buying and Selling at NCS Multistage

In other news, Director Valerie A. Mitchell sold 1,969 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $30.16, for a total transaction of $59,385.04. Following the transaction, the director owned 23,551 shares of the company's stock, valued at approximately $710,298.16. The trade was a 7.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.00% of the company's stock.

Institutional Trading of NCS Multistage

Several institutional investors and hedge funds have recently bought and sold shares of NCSM. Inspire Advisors LLC purchased a new stake in NCS Multistage in the 2nd quarter valued at about $430,000. NewEdge Advisors LLC raised its holdings in NCS Multistage by 3,774.4% in the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company's stock valued at $241,000 after buying an additional 7,964 shares during the period. Bailard Inc. purchased a new stake in NCS Multistage in the 1st quarter valued at about $249,000. Finally, Empowered Funds LLC raised its holdings in NCS Multistage by 7.3% in the 1st quarter. Empowered Funds LLC now owns 21,489 shares of the company's stock valued at $752,000 after buying an additional 1,455 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 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.