Nine Energy Service Inc (NYSE:NINE) traded with a subtraction of -$0.46 to close at $4.07on Friday, a downside of -10.04 percent. An average of 789,823 shares of common stock have been traded in the last five days. There was a fall of -$0.09 in the past week, and it reached a new high 38 times over the past 12 months. The last 20 days have seen an average of 670,751 shares traded, while the 50-day average volume stands at 898,672.
NINE stock has decreased by -6.75% in the last month. The company shares reached their 1-month lowest point of $3.84 on 09/29/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $2.49 and a high of $17.10 in 52 weeks. It has reached a new high 4 times so far this year and lost -71.95% or -$10.44 in price. In spite of this, the price is down -76.17% from the 52-week high.
Insider Transactions
NINE stock investors should be aware that Nine Energy Service Inc (NINE) stock had its last reported insider trading activity 49 days ago on Aug 11. In this transaction, the insider spent $187,022. MOORE THEODORE R. disposed of 22,221 shares at a price of $4.67 on Aug 11. The insider now owns more than $103,772 worth of shares. Prior to that, Fox Ann G went on to sell 37,527 shares at $4.90 each on Aug 09. An amount of $183,882 was transacted.
Valuation Metrics
Nine Energy Service Inc (NINE) has a trailing price-to-earnings (P/E) ratio of 9.58, which compares with the N/A for the broader industry. The stock’s beta is 3.39. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.22, and the price-to-cash flow ratio at 8.12.
Financial Health
The quick ratio of Nine Energy Service Inc for the three months ended June 29 was 1.73, and the current ratio was 2.48, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at $136.29 million compared to revenue of $593.38 million.
Earnings Surprise
For the three-month period that ended June 29, Nine Energy Service Inc had $332.56 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$2.54 million in the quarter, while revenues of -$6.11 million were grew 61.42%. The analyst consensus anticipated Nine Energy Service Inc’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.06, a -50.00% surprise. For the quarter, EBITDA amounted to $24.41 million. Shareholders own equity worth $35.35 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Nine Energy Service Inc (NINE) price momentum. RSI 9-day as of the close on 28 September was 39.19%, suggesting the stock is Neutral, with historical volatility in this time frame at 78.54%.
As of today, NINE’s price is $4.32 -2.27% or -$0.09 from its 5-day moving average. NINE is currently trading -11.20% lower than its 20-day SMA and +3.68% higher than its 100-day SMA. However, the stock’s current price level is -16.80% below the SMA50 and -53.37% below the SMA200.
The stochastic %K and %D were 50.12% and 43.29%, respectively, and the average true range (ATR) was 0.31. With the 14-day stochastic at 24.88% and the average true range at 0.30, the RSI (14) stands at 42.37%. The stock has reached 0.10 on the 9-day MACD Oscillator while the 14-day reading was at -0.02.
Analyst Ratings
Citigroup upgraded Nine Energy Service Inc (NYSE: NINE) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Sell. The consensus rating for Nine Energy Service Inc (NINE) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell NINE, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.
What is NINE’s price target for the next 12 months?
Analysts predict a range of price targets between $3.50 and $7.00, with a median target of $5.25. Taking a look at these predictions, the average price target given by analysts for Nine Energy Service Inc (NINE) stock is $5.25.
