Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Buys $1,232,435.68 in Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe bought 765,488 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was bought at an average cost of $1.61 per share, for a total transaction of $1,232,435.68. Following the purchase, the insider now directly owns 3,000,000 shares of the company’s stock, valued at approximately $4,830,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

William Monroe also recently made the following trade(s):

• On Monday, June 17th, William Monroe purchased 25,000 shares of Nine Energy Service stock. The stock was bought at an average cost of $1.47 per share, with a total value of $36,750.00.
• On Thursday, June 13th, William Monroe acquired 152,639 shares of Nine Energy Service stock. The shares were purchased at an average cost of $1.46 per share, for a total transaction of $222,852.94.

Nine Energy Service Stock Performance

NINE opened at $1.79 on Friday. The firm’s fifty day moving average is $1.83 and its two-hundred day moving average is $2.19. The firm has a market cap of $63.23 million, a PE ratio of -1.77 and a beta of 3.36. Nine Energy Service, Inc. has a twelve month low of $1.37 and a twelve month high of $5.59.

Nine Energy Service (NYSE:NINE) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.08. The firm had revenue of $142.12 million during the quarter, compared to the consensus estimate of $141.90 million. Equities analysts forecast that Nine Energy Service, Inc. will post -1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Nine Energy Service

Hedge funds have recently modified their holdings of the business. Cannell Capital LLC acquired a new position in shares of Nine Energy Service in the 3rd quarter valued at approximately $3,235,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Nine Energy Service in the third quarter valued at approximately $288,000. Clarity Financial LLC increased its position in shares of 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 acquiring an additional 864,455 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Nine Energy Service during the third quarter worth $164,000. Finally, Kestra Advisory Services LLC lifted its position in Nine Energy Service by 23.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 44,635 shares of the company’s stock valued at $184,000 after acquiring an additional 8,576 shares in the last quarter. Institutional investors and hedge funds own 57.61% of the company’s stock.

Nine Energy Service Company Profile

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.