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

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 53,997 shares, a growth of 80.6% from the May 31st total of 29,900 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily trading volume, of 49,294 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On NCS Multistage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCSM. Tucker Asset Management LLC bought a new stake in NCS Multistage in the 4th quarter valued at $34,000. PNC Financial Services Group Inc. increased its position in NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after buying an additional 668 shares during the period. Bank of New York Mellon Corp bought a new position in NCS Multistage during the 1st quarter worth $223,000. Bank of America Corp DE lifted its holdings in shares of NCS Multistage by 397,500.0% during the first quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock worth $246,000 after buying an additional 3,975 shares in the last quarter. Finally, Heron Bay Capital Management acquired a new stake in shares of NCS Multistage during the third quarter worth $222,000. 70.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wall Street Zen lowered shares of NCS Multistage from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded NCS Multistage from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 2nd. Finally, Weiss Ratings lowered NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

NCS Multistage Stock Up 3.5%

NASDAQ:NCSM opened at $44.59 on Friday. The stock has a 50-day simple moving average of $50.78 and a 200 day simple moving average of $49.77. NCS Multistage has a 52-week low of $29.26 and a 52-week high of $87.36. The company has a market cap of $117.05 million, a PE ratio of 6.45 and a beta of 0.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 5.35.

NCS Multistage (NASDAQ:NCSM) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($1.47). NCS Multistage had a net margin of 10.78% and a return on equity of 6.58%. The business had revenue of $45.64 million during the quarter, compared to analyst estimates of $51.22 million. On average, sell-side analysts expect that NCS Multistage will post 2.53 EPS for the current fiscal year.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.