Insider Selling: Nine Energy Service, Inc. (NYSE:NINE) Insider Sells 21,796 Shares of Stock

Nine Energy Service, Inc. (NYSE:NINE - Get Free Report) insider David Crombie sold 21,796 shares of the company's stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $1.95, for a total transaction of $42,502.20. Following the completion of the transaction, the insider now owns 332,553 shares of the company's stock, valued at approximately $648,478.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nine Energy Service Trading Down 3.3 %

NINE traded down $0.06 during trading on Friday, hitting $1.89. The company's stock had a trading volume of 795,970 shares, compared to its average volume of 660,734. The business's fifty day simple moving average is $2.32 and its 200 day simple moving average is $2.42. Nine Energy Service, Inc. has a twelve month low of $1.79 and a twelve month high of $5.59. The firm has a market capitalization of $66.59 million, a price-to-earnings ratio of -2.04 and a beta of 3.42.

Nine Energy Service (NYSE:NINE - Get Free Report) last released its earnings results on Thursday, March 7th. The company reported ($0.30) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.05. The company had revenue of $144.07 million for the quarter, compared to analysts' expectations of $142.00 million. As a group, equities research analysts forecast that Nine Energy Service, Inc. will post -0.78 earnings per share for the current fiscal year.

Institutional Trading of Nine Energy Service

Several large investors have recently bought and sold shares of the business. Cannell Capital LLC acquired a new stake in shares of Nine Energy Service in the third quarter valued at approximately $3,235,000. Adage Capital Partners GP L.L.C. acquired a new stake in Nine Energy Service during the third quarter worth about $288,000. Clarity Financial LLC raised its stake in Nine Energy Service by 53.8% during the fourth quarter. Clarity Financial LLC now owns 2,471,249 shares of the company's stock worth $6,623,000 after purchasing an additional 864,455 shares during the period. Citigroup Inc. acquired a new position in Nine Energy Service in the 3rd quarter valued at about $164,000. Finally, Gendell Jeffrey L raised its position in shares of Nine Energy Service by 15.5% during the 3rd quarter. Gendell Jeffrey L now owns 3,103,915 shares of the company's stock valued at $12,788,000 after buying an additional 415,645 shares during the period. Hedge funds and other institutional investors own 57.61% of the company's stock.

About Nine Energy Service

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.

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