Stock on Demand This Week: Nine Energy Service Inc. (NINE)


Nine Energy Service Inc. (NYSE:NINE) saw a downside of -6.88% to close Tuesday at $12.46 after subtracting -$0.92 on the day. The 5-day average trading volume is 2,057,420 shares of the company’s common stock. It has gained $15.84 in the past week and touched a new high 2 times within the past 5 days. An average of 2,069,180 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,958,732.

NINE’s 1-month performance is -0.88% or -$1.31 on its low of $11.60 reached on 01/05/23. The company’s shares have touched a 52-week low of $0.91 and high of $17.10, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, NINE has lost -14.25% or -$2.07 and has reached a new high 4 times. However, the current price is down -27.13% from the 52-week high price.

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Insider Transactions

NINE stock investors last saw insider trading activity on Jan 17.Frazier Warren Lynn (10% Owner) most recently sold 100,000 shares at $14.99 per share on Jan 17. This transaction cost the insider $1,499,220. 10% Owner, Frazier Warren Lynn, sold 300,000 shares at a price of $12.34 on Dec 22. Then, on Dec 01, 10% Owner Frazier Warren Lynn sold 21,958 shares at a price of $10.81 per share. This transaction amounted to $237,289.

Valuation Metrics

NINE stock has a beta of 3.44. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.77.

Nine Energy Service Inc.’s quick ratio for the period ended June 29 was 1.30, with the current ratio over the same period at 1.80.. In terms of profitability, the gross margin trailing 12 months is 20.90%. The firm’s gross profit as reported stood at $41.43 million against revenue of $349.42 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 212.32% to $14.29 million, while revenue of -$0.98 million was 106.86% off the previous quarter. Analysts expected NINE to announce -$0.12 per share in earnings in its latest quarter, but it posted -$0.01, representing a 91.70% surprise. EBITDA for the quarter stood at more than $32.13 million. NINE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 439.56 million, with total debt at $382.03 million. Shareholders hold equity totaling $33.22 million.

Let’s look briefly at Nine Energy Service Inc. (NINE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 39.76% to suggest the stock is trending Neutral, with historical volatility in this time period at 103.72%.

The stock’s 5-day moving average is $13.97, reflecting a -16.99% or -$2.55 change from its current price. NINE is currently trading +3.23% above its 20-day SMA, +279.88% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +60.15% and SMA200 by+331.14%.

Stochastic %K and %D was 35.58% and 46.75% and the average true range (ATR) pointed at 1.50. The RSI (14) points at 47.16%, while the 14-day stochastic is at 15.64% with the period’s ATR at 1.42. The stock’s 9-day MACD Oscillator is pointing at -1.09 and -0.54 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Nine Energy Service Inc. (NYSE: NINE), Citigroup upgraded it to a Neutral rating. They previously had a Sell rating on the stock. Analysts offering their rating for NINE stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate NINE as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.

What is NINE’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $18.00 and a high of $18.00, with their median price target at $18.00. Looking at these predictions, the average price target given by analysts is for Nine Energy Service Inc. (NINE) stock is $18.00.


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