Nine Energy Service, Inc. (NYSE:NINE) Short Interest Up 29.6% in December

Nine Energy Service, Inc. (NYSE:NINE) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 3,123,498 shares, an increase of 29.6% from the December 15th total of 2,409,400 shares. Approximately 7.5% of the shares of the company are sold short. Based on an average daily trading volume, of 2,314,214 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 2,314,214 shares, the days-to-cover ratio is presently 1.3 days. Approximately 7.5% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new position in Nine Energy Service in the 3rd quarter worth approximately $47,000. GSA Capital Partners LLP lifted its holdings in shares of Nine Energy Service by 12.8% in the third quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock worth $176,000 after buying an additional 31,562 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in Nine Energy Service during the second quarter valued at $73,000. 57.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on NINE. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nine Energy Service in a research report on Wednesday, October 8th. Wall Street Zen downgraded Nine Energy Service to a “strong sell” rating in a research report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Nine Energy Service Price Performance

Shares of NINE stock traded down $0.03 on Friday, hitting $0.47. 1,589,726 shares of the stock traded hands, compared to its average volume of 2,675,254. Nine Energy Service has a 52 week low of $0.29 and a 52 week high of $1.78. The firm has a 50 day simple moving average of $0.41 and a two-hundred day simple moving average of $0.59. The firm has a market cap of $20.42 million, a price-to-earnings ratio of -0.47 and a beta of 2.22.

Nine Energy Service (NYSE:NINE) last issued its quarterly earnings results on Thursday, October 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $132.03 million during the quarter, compared to analyst estimates of $139.16 million. Sell-side analysts forecast that Nine Energy Service will post -1.12 EPS for the current year.

Nine Energy Service Company Profile

Nine Energy Service, Inc (NYSE: NINE) is a Houston, Texas–based oilfield services company specializing in completion and production equipment and services for the upstream oil and gas industry. The company traces its roots to the Keane Group, a wireline and completion‐service provider founded in the late 1990s, and was rebranded as Nine Energy Service in 2017 following a corporate realignment. Today, Nine offers an integrated suite of services that spans the full life cycle of a well.

Nine Energy Service’s core offerings include hydraulic fracturing horsepower, high‐pressure fluid pumps, nitrogen pumping units, and sand management systems.