Nine Energy Service, Inc. (NYSE:NINE) major shareholder Warren Lynn Frazier sold 42,755 shares of the stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $2.30, for a total transaction of $98,336.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of NINE stock traded down $0.01 during trading hours on Wednesday, reaching $2.34. 102,545 shares of the stock were exchanged, compared to its average volume of 212,809. The business’s fifty day moving average is $2.01 and its two-hundred day moving average is $2.25. The company has a debt-to-equity ratio of 22.56, a current ratio of 2.63 and a quick ratio of 1.87. Nine Energy Service, Inc. has a 12-month low of $1.05 and a 12-month high of $4.03. The firm has a market capitalization of $73.36 million, a P/E ratio of -0.81 and a beta of 3.51.
Nine Energy Service (NYSE:NINE) last released its earnings results on Wednesday, August 4th. The company reported ($0.78) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.08). Nine Energy Service had a negative return on equity of 605.98% and a negative net margin of 32.95%. The firm had revenue of $84.83 million for the quarter, compared to analysts’ expectations of $82.50 million. As a group, equities research analysts predict that Nine Energy Service, Inc. will post -2.45 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Nine Energy Service during the first quarter worth approximately $44,000. Dimensional Fund Advisors LP increased its stake in Nine Energy Service by 129.1% in the first quarter. Dimensional Fund Advisors LP now owns 37,512 shares of the company’s stock valued at $86,000 after purchasing an additional 21,138 shares during the last quarter. Occudo Quantitative Strategies LP increased its stake in Nine Energy Service by 102.4% in the first quarter. Occudo Quantitative Strategies LP now owns 33,059 shares of the company’s stock valued at $76,000 after purchasing an additional 16,722 shares during the last quarter. Renaissance Technologies LLC increased its stake in Nine Energy Service by 12.4% in the first quarter. Renaissance Technologies LLC now owns 359,800 shares of the company’s stock valued at $828,000 after purchasing an additional 39,700 shares during the last quarter. Finally, State Street Corp increased its stake in Nine Energy Service by 246.4% in the second quarter. State Street Corp now owns 48,468 shares of the company’s stock valued at $142,000 after purchasing an additional 34,478 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.
Nine Energy Service Company Profile
Nine Energy Service, Inc operates as an oilfield services company, which engages in the provision of completion solutions. It offers cementing services, completion tools, wireline services, and coiled tubing services. The company was founded in 2011 and is headquartered in Houston, TX.
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