Nine Energy Service (NYSE:NINE) Downgraded by Wall Street Zen to “Strong Sell”
by Michael Walen · The Markets DailyWall Street Zen lowered shares of Nine Energy Service (NYSE:NINE – Free Report) to a strong sell rating in a report released on Saturday morning.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nine Energy Service in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Nine Energy Service presently has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on NINE
Nine Energy Service Stock Down 6.1%
Shares of NYSE:NINE opened at $0.47 on Friday. Nine Energy Service has a twelve month low of $0.29 and a twelve month high of $1.78. The stock’s 50 day moving average is $0.41 and its 200-day moving average is $0.59. The firm has a market capitalization of $20.42 million, a price-to-earnings ratio of -0.47 and a beta of 2.22.
Nine Energy Service (NYSE:NINE – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The business had revenue of $132.03 million for the quarter, compared to analyst estimates of $139.16 million. Equities research analysts anticipate that Nine Energy Service will post -1.12 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp purchased a new stake in shares of Nine Energy Service during the 2nd quarter valued at $73,000. Two Sigma Investments LP purchased a new position in shares of Nine Energy Service in the 3rd quarter worth about $47,000. Finally, GSA Capital Partners LLP grew its position in Nine Energy Service by 12.8% during the third quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock valued at $176,000 after buying an additional 31,562 shares during the period. Hedge funds and other institutional investors own 57.61% of the company’s stock.
About Nine Energy Service
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.