Nine Energy Service Inc. (NYSE:NINE) saw an upside of 1.56% to close Monday at $4.57 after adding $0.07 on the day. The 5-day average trading volume is 1,734,700 shares of the company’s common stock. It has gained $5.59 in the past week and touched a new high 2 times within the past 5 days. An average of 1,302,885 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,027,178.
NINE’s 1-month performance is 9.86% or $0.41 on its low of $4.09 reached on 07/10/23. The company’s shares have touched a 52-week low of $2.30 and high of $17.10, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, NINE has lost -68.55% or -$9.96 and has reached a new high 4 times. However, the current price is down -73.27% from the 52-week high price.
Insider Transactions
NINE stock investors last saw insider trading activity on May 16.Fox Ann G () most recently sold 15,485 shares at $3.48 per share on May 03. This transaction cost the insider $53,888., Crombie David, sold 10,827 shares at a price of $3.48 on May 03. Then, on May 03, Sirkes Guy sold 3,786 shares at a price of $3.48 per share. This transaction amounted to $13,175.
Valuation Metrics
NINE stock has a beta of 3.43. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.26.
Nine Energy Service Inc.’s quick ratio for the period ended June 29 was 1.80, with the current ratio over the same period at 2.70. In terms of profitability, the gross margin trailing 12 months is 23.40%. The trailing 12-month EBITDA margin is 16.30% while for the period ending June 29, Nine Energy Service Inc.’s operating margin was 7.20%. The firm’s gross profit as reported stood at $136.29 million against revenue of $593.38 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 61.42% to -$2.54 million, while revenue of -$6.11 million was -140.55% off the previous quarter. Analysts expected NINE to announce -$0.04 per share in earnings in its latest quarter, but it posted -$0.06, representing a -50.00% surprise. EBITDA for the quarter stood at more than $24.41 million. NINE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 451.89 million, with total debt at $376.78 million. Shareholders hold equity totaling $35.35 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 07 August was 46.25% to suggest the stock is trending Neutral, with historical volatility in this time period at 61.88%.
The stock’s 5-day moving average is $4.69, reflecting a -9.15% or -$0.46 change from its current price. NINE is currently trading +2.70% above its 20-day SMA, -29.04% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +35.61% and SMA200 by+11.74%.
Stochastic %K and %D was 24.99% and 27.14% and the average true range (ATR) pointed at 0.45. The RSI (14) points at 50.70%, while the 14-day stochastic is at 28.77% with the period’s ATR at 0.41. The stock’s 9-day MACD Oscillator is pointing at -0.14 and -0.18 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 $6.00 and a high of $7.00, with their median price target at $6.50. Looking at these predictions, the average price target given by analysts is for Nine Energy Service Inc. (NINE) stock is $6.50.
