Given A -217.65% Drop From High, Can Nine Energy Service Inc. (NYSE: NINE) Quickly Recover? – Marketing Sentinel
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Given A -217.65% Drop From High, Can Nine Energy Service Inc. (NYSE: NINE) Quickly Recover?

During the last session, Nine Energy Service Inc. (NYSE:NINE)’s traded shares were 1.35 million, with the beta value of the company hitting 3.27. At the end of the trading day, the stock’s price was $2.55, reflecting an intraday loss of -6.59% or -$0.18. The 52-week high for the NINE share is $8.10, that puts it down -217.65 from that peak though still a striking 69.02% gain since the share price plummeted to a 52-week low of $0.79. The company’s market capitalization is $82.19M, and the average intraday trading volume over the past 10 days was 0.42 million shares, and the average trade volume was 716.82K shares over the past three months.

Nine Energy Service Inc. (NINE) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 3.00. NINE has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.02.

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Nine Energy Service Inc. (NYSE:NINE) trade information

Nine Energy Service Inc. (NINE) registered a -6.59% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.59% in intraday trading to $2.55 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is -0.39%, and it has moved by 16.44% in 30 days. Based on these gigs, the overall price performance for the year is 1.59%. The short interest in Nine Energy Service Inc. (NYSE:NINE) is 1.95 million shares and it means that shorts have 5.1 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.00, which implies an increase of 57.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $6.00 and $6.00 respectively. As a result, NINE is trading at a discount of -135.29% off the target high and -135.29% off the low.

Nine Energy Service Inc. (NINE) estimates and forecasts

Statistics show that Nine Energy Service Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Nine Energy Service Inc. (NINE) shares have gone up 112.50% during the last six months, with a year-to-date growth rate more than the industry average at 96.24% against 15.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 97.40% this quarter and then jump 115.70% in the quarter after that. In the rating firms’ projections, revenue will increase 57.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $139.1 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $146.6 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $82.5 million and $92.87 million respectively. In this case, analysts expect current quarter sales to grow by 68.60% and then jump by 57.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 6.90%. While earnings are projected to return 83.30% in 2022.

NINE Dividends

Nine Energy Service Inc. is due to release its next quarterly earnings between April 05 and April 11. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Nine Energy Service Inc. (NYSE:NINE)’s Major holders

Nine Energy Service Inc. insiders own 26.62% of total outstanding shares while institutional holders control 46.76%, with the float percentage being 63.72%. SCF Partners, Inc. is the largest shareholder of the company, while 46 institutions own stock in it. As of Mar 30, 2022, the company held over 9.09 million shares (or 27.77% of all shares), a total value of $33.98 million in shares.

The next largest institutional holding, with 2.64 million shares, is of Clarity Financial, LLC’s that is approximately 8.08% of outstanding shares. At the market price on Jun 29, 2022, these shares were valued at $7.0 million.

Also, the Mutual Funds coming in first place with the largest holdings of Nine Energy Service Inc. (NINE) shares are Vanguard Total Stock Market Index Fund and Bridgeway Funds Inc-Ultra Small Company Market Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 0.41 million shares. This amounts to just over 1.25 percent of the company’s overall shares, with a $1.53 million market value. The same data shows that the other fund manager holds slightly less at 0.34 million, or about 1.05% of the stock, which is worth about $1.28 million.

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