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Is Nine Energy Service Inc. (NYSE:NINE), -25.14% Away From High, Poised For A Strong Comeback?

In last trading session, Nine Energy Service Inc. (NYSE:NINE) saw 1.8 million shares changing hands with its beta currently measuring 3.57. Company’s recent per share price level of $8.79 trading at -$0.28 or -3.09% at ring of the bell on the day assigns it a market valuation of $306.51M. That closing price of NINE’s stock is at a discount of -25.14% from its 52-week high price of $11.00 and is indicating a premium of 91.01% from its 52-week low price of $0.79. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.58 million shares which gives us an average trading volume of 935.95K if we extend that period to 3-months.

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

Upright in the red during last session for losing -3.09%, in the last five days NINE remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $8.79 price level, adding 20.09% to its value on the day. Nine Energy Service Inc.’s shares saw a change of 779.00% in year-to-date performance and have moved -12.80% in past 5-day. Nine Energy Service Inc. (NYSE:NINE) showed a performance of 77.22% in past 30-days. Number of shares sold short was 2.07 million shares which calculate 2.8 days to cover the short interests.

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Nine Energy Service Inc. (NINE) estimates and forecasts

Statistics highlight that Nine Energy Service Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 206.27% of value to its shares in past 6 months, showing an annual growth rate of 121.43% while that of industry is 19.60. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 171.20% in the current quarter and calculating 318.20% increase in the next quarter. This year revenue growth is estimated to rise 69.60% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $156.06 million for the same.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 6.90% during past 5 years.

NINE Dividends

Nine Energy Service Inc. is more likely to be releasing its next quarterly report on November 07 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 26.02% of company’s total shares while institution are holding 52.73 percent of that, with stock having share float percentage of 71.28%. Investors also watch the number of corporate investors in a company very closely, which is 52.73% institutions for Nine Energy Service Inc. that are currently holding shares of the company. SCF Partners, Inc. is the top institutional holder at NINE for having 9.09 million shares of worth $79.87 million. And as of Sep 29, 2022, it was holding 27.35% of the company’s outstanding shares.

The second largest institutional holder is Clarity Financial, LLC, which was holding about 4.22 million shares on Sep 29, 2022. The number of shares represents firm’s hold over 12.70% of outstanding shares, having a total worth of $37.08 million.

On the other hand, Vanguard Total Stock Market Index Fund and Bridgeway Funds Inc-Ultra Small Company Market Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 0.41 million shares of worth $3.6 million or 1.23% of the total outstanding shares. The later fund manager was in possession of 0.34 million shares on Sep 29, 2022, making its stake of worth around $3.01 million in the company or a holder of 1.03% of company’s stock.

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