In today’s recent session, 0.48 million shares of the Nine Energy Service Inc (NYSE:NINE) have been traded, and its beta is 3.53. Most recently the company’s share price was $0.96, and it changed around -$0.06 or -5.87% from the last close, which brings the market valuation of the company to $39.89M. NINE at last check was trading at a discount to its 52-week high of $3.26, offering almost -239.58% off that amount. The share price’s 52-week low was $0.75, which indicates that the recent value has risen by an impressive 21.87% since then. We note from Nine Energy Service Inc’s average daily trading volume that its 10-day average is 1.02 million shares, with the 3-month average coming to 1.04 million.
Nine Energy Service Inc stock received a consensus recommendation rating of Sell, based on a mean score of 5.00. If we narrow it down even further, the data shows that 1 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended NINE as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Nine Energy Service Inc is expected to report earnings per share of -0.24 for the current quarter.
Nine Energy Service Inc (NYSE:NINE) trade information
Instantly NINE has been showing red trend so far today with a performance of -5.87% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 1.1252 on recent trading dayincreased the stock’s daily price by 14.68%. The company’s shares are currently down -64.18% year-to-date, but still down -3.99% over the last five days. On the other hand, Nine Energy Service Inc (NYSE:NINE) is -39.62% down in the 30-day period. We can see from the shorts that 3.79 million shares have been sold at a short interest cover period of 3.41 day(s).
The consensus price target as assigned by Wall Street analysts is $18, which translates to bulls needing to increase their stock price by 94.67% from its current value. Analyst projections state that NINE is forecast to be at a low of $18 and a high of $18.
Nine Energy Service Inc (NINE) estimates and forecasts
Nine Energy Service Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -41.81 percent over the past six months and at a -40.00% annual growth rate that is well below the industry average of -7.40%. The year-over-year growth rate is expected to be -10.26%, down from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of 135M in revenue for the current quarter. 1 analysts expect Nine Energy Service Inc to make 136M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 144.07M and 142.12M respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.30%. Forecasts for the next quarter put sales growth at -4.31%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 14.91%.
NINE Dividends
Nine Energy Service Inc’s next quarterly earnings report is expected to be released in January.
Nine Energy Service Inc (NYSE:NINE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 30.84% of Nine Energy Service Inc shares, and 31.94% of them are in the hands of institutional investors. The stock currently has a share float of 46.18%. Nine Energy Service Inc stock is held by 67.0 institutions, with SCF PARTNERS, INC. being the largest institutional investor. By 2024-06-30, it held 26.8443% of the shares, which is about 9.09 million shares worth $15.27 million.
GENDELL JEFFREY L, with 10.0396% or 3.4 million shares worth $5.71 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
