Nine Energy Service, Inc. (NYSEAMERICAN:NINE) Sees Large Decrease in Short Interest

Key Points

• Short interest fell 40.4% to 143,800 shares as of October 15, down from 241,317 shares on September 30. Short interest now represents 0.3% of outstanding shares, with a short-interest ratio of 5.1 days.
• Nine Energy Service shares declined 0.3% to $7.84, trading below both their 50-day moving average of $9.04 and 200-day moving average of $10.03.
• Cygnus Capital Advisors acquired 500,358 shares worth approximately $6.51 million, while institutional investors and hedge funds collectively own 57.61% of the company.

Nine Energy Service, Inc. (NYSEAMERICAN:NINE - Get Free Report) was the target of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 143,800 shares, a decrease of 40.4% from the September 30th total of 241,317 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 27,926 shares, the short-interest ratio is presently 5.1 days.

Nine Energy Service Trading Down 0.3%

NYSEAMERICAN NINE traded down $0.02 during trading on Friday, reaching $7.84. The company's stock had a trading volume of 7,106 shares, compared to its average volume of 24,756. The firm has a fifty day moving average of $9.04 and a 200 day moving average of $10.03. Nine Energy Service has a one year low of $7.32 and a one year high of $13.23. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.34 and a quick ratio of 1.68.

Institutional Trading of Nine Energy Service

An institutional investor recently bought a new stake in Nine Energy Service stock. Cygnus Capital Advisors LLC acquired a new position in shares of Nine Energy Service, Inc. (NYSEAMERICAN:NINE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 500,358 shares of the company's stock, valued at approximately $6,510,000. Nine Energy Service comprises 4.4% of Cygnus Capital Advisors LLC's portfolio, making the stock its 4th largest holding. Cygnus Capital Advisors LLC owned 1.16% of Nine Energy Service at the end of the most recent quarter. 57.61% of the stock is owned by institutional investors and hedge funds.

Nine Energy Service Company Profile

Nine Energy Service, Inc is an oilfield services company that provides completion and production solutions to onshore oil and natural gas operators. Its services support the completion, stimulation, and maintenance of wells, particularly in unconventional formations.

The company's offerings have included completion tools, wireline services, coiled tubing, cementing, and other well-intervention services. These products and services are designed to help customers prepare wells for production, improve well performance, and address operational requirements throughout the well life cycle.

Founded in 2011 and headquartered in Houston, Texas, Nine Energy Service has historically served customers in the United States and Canada.

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