Atb Cap Markets Analysts Reduce Earnings Estimates for NINE

Nine Energy Service, Inc. (NYSE:NINE) – Investment analysts at Atb Cap Markets reduced their FY2024 earnings estimates for shares of Nine Energy Service in a research report issued to clients and investors on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now expects that the company will post earnings of ($1.12) per share for the year, down from their prior estimate of ($1.10). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.10) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.75) EPS, Q1 2026 earnings at ($0.17) EPS, Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.12) EPS and FY2026 earnings at ($0.57) EPS.

Nine Energy Service Stock Down 2.2 %

Nine Energy Service stock opened at $1.12 on Friday. The firm has a market cap of $47.24 million, a PE ratio of -0.93 and a beta of 3.50. Nine Energy Service has a 52-week low of $0.75 and a 52-week high of $3.26. The company’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.38.

Institutional Investors Weigh In On Nine Energy Service

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC grew its position in shares of Nine Energy Service by 89.8% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 113,424 shares of the company’s stock valued at $191,000 after buying an additional 53,657 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in shares of Nine Energy Service in the 2nd quarter valued at $34,000. XTX Topco Ltd purchased a new position in shares of Nine Energy Service in the 2nd quarter valued at $32,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Nine Energy Service in the 2nd quarter valued at $31,000. 57.61% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder William Monroe acquired 260,000 shares of Nine Energy Service stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $1.24 per share, for a total transaction of $322,400.00. Following the acquisition, the insider now owns 4,860,000 shares of the company’s stock, valued at $6,026,400. This trade represents a 5.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Guy Sirkes sold 35,380 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $1.67, for a total transaction of $59,084.60. Following the completion of the sale, the insider now owns 156,966 shares in the company, valued at $262,133.22. The trade was a 18.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

Nine Energy Service Company Profile

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.