Nine Energy Service, Inc. (NYSE:NINE) Short Interest Update

Nine Energy Service, Inc. (NYSE:NINE - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,840,000 shares, a growth of 34.3% from the March 15th total of 2,860,000 shares. Based on an average daily volume of 643,300 shares, the short-interest ratio is currently 6.0 days. Approximately 13.3% of the company's stock are short sold.

Nine Energy Service Stock Performance

Shares of NINE stock traded down $0.03 during trading hours on Friday, hitting $2.82. 2,764,242 shares of the company were exchanged, compared to its average volume of 586,820. The stock has a market capitalization of $99.63 million, a price-to-earnings ratio of -2.94 and a beta of 3.41. Nine Energy Service has a one year low of $1.78 and a one year high of $5.59. The business's 50-day simple moving average is $2.26 and its two-hundred day simple moving average is $2.63.

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 firm had revenue of $144.07 million for the quarter, compared to the consensus estimate of $142.00 million. As a group, analysts anticipate that Nine Energy Service will post -0.78 EPS for the current fiscal year.

Insider Activity at Nine Energy Service

In other news, insider Ann G. Fox sold 216,704 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $2.17, for a total transaction of $470,247.68. Following the completion of the sale, the insider now owns 508,783 shares of the company's stock, valued at $1,104,059.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nine Energy Service

A number of hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in Nine Energy Service in the fourth quarter worth about $62,000. Vanguard Group Inc. raised its position in shares of Nine Energy Service by 24.2% during the 4th quarter. Vanguard Group Inc. now owns 910,468 shares of the company's stock worth $2,440,000 after purchasing an additional 177,573 shares during the period. Virtu Financial LLC bought a new stake in shares of Nine Energy Service in the 4th quarter worth approximately $35,000. GSA Capital Partners LLP acquired a new position in Nine Energy Service during the 4th quarter valued at approximately $318,000. Finally, Occudo Quantitative Strategies LP bought a new position in Nine Energy Service during the 4th quarter worth $122,000. Institutional investors and hedge funds 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.