NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Large Decline in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 39,957 shares, a drop of 39.0% from the July 30th total of 65,493 shares. Based on an average daily volume of 6,205 shares, the short-interest ratio is currently 6.4 days. Approximately 1.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

NCSM has been the topic of several recent analyst reports. Zacks Research raised shares of NCS Multistage from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of NCS Multistage in a report on Friday, August 21st. Finally, Wall Street Zen upgraded NCS Multistage to a “hold” rating in a report on Saturday, July 18th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On NCS Multistage

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in NCS Multistage by 46.5% in the fourth quarter. NewEdge Advisors LLC now owns 10,383 shares of the company’s stock valued at $410,000 after purchasing an additional 3,296 shares in the last quarter. Empowered Funds LLC raised its stake in shares of NCS Multistage by 5.5% during the 4th quarter. Empowered Funds LLC now owns 19,853 shares of the company’s stock worth $784,000 after purchasing an additional 1,042 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NCS Multistage by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 10,153 shares of the company’s stock worth $401,000 after purchasing an additional 411 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of NCS Multistage during the 3rd quarter valued at about $299,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock valued at $44,000 after buying an additional 668 shares during the last quarter. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

NCS Multistage Stock Performance

NCSM stock opened at $51.64 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.65 and a current ratio of 4.27. The stock has a market cap of $135.30 million, a P/E ratio of 10.63 and a beta of 0.17. The firm has a 50 day simple moving average of $46.90 and a 200 day simple moving average of $51.96. NCS Multistage has a 52 week low of $34.06 and a 52 week high of $87.36.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.83). The company had revenue of $38.36 million for the quarter, compared to analysts’ expectations of $37.60 million. NCS Multistage had a net margin of 7.61% and a return on equity of 2.40%. Research analysts anticipate that NCS Multistage will post 2.53 earnings per share for the current fiscal year.

About NCS Multistage

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.