NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Significant Drop in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM - Get Free Report) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 700 shares, a decrease of 80.6% from the May 15th total of 3,600 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the company's shares are short sold.

Institutional Trading of NCS Multistage

Several hedge funds have recently added to or reduced their stakes in NCSM. Empowered Funds LLC raised its stake in NCS Multistage by 4.7% during the 4th quarter. Empowered Funds LLC now owns 20,034 shares of the company's stock worth $520,000 after buying an additional 892 shares during the period. PNC Financial Services Group Inc. raised its stake in NCS Multistage by 56.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,735 shares of the company's stock worth $71,000 after buying an additional 982 shares during the period. Tocqueville Asset Management L.P. raised its stake in NCS Multistage by 3.1% during the 4th quarter. Tocqueville Asset Management L.P. now owns 142,702 shares of the company's stock worth $3,705,000 after buying an additional 4,345 shares during the period. Geode Capital Management LLC acquired a new stake in NCS Multistage during the 4th quarter worth $247,000. Finally, Renaissance Technologies LLC acquired a new stake in NCS Multistage during the 4th quarter worth $261,000. Institutional investors and hedge funds own 70.91% of the company's stock.

Analyst Upgrades and Downgrades

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

NCS Multistage Trading Down 0.5%

Shares of NCSM stock traded down $0.16 during trading hours on Thursday, reaching $30.06. The company had a trading volume of 11,557 shares, compared to its average volume of 8,099. The company has a 50 day moving average of $29.95 and a 200 day moving average of $28.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.50 and a quick ratio of 2.63. The firm has a market cap of $76.38 million, a price-to-earnings ratio of 1.77 and a beta of 0.70. NCS Multistage has a 1-year low of $15.90 and a 1-year high of $38.95.

NCS Multistage (NASDAQ:NCSM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.72. The company had revenue of $50.01 million for the quarter, compared to the consensus estimate of $44.40 million. NCS Multistage had a return on equity of 2.60% and a net margin of 27.99%.

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.