Nine Energy Service (NYSE:NINE) Trading Down 1.7%

Nine Energy Service, Inc. (NYSE:NINE)’s stock price dropped 1.7% during mid-day trading on Monday . The company traded as low as $1.18 and last traded at $1.19. Approximately 186,494 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 602,780 shares. The stock had previously closed at $1.21.

Nine Energy Service Trading Down 1.7 %

The company has a market cap of $42.04 million, a P/E ratio of -1.18 and a beta of 3.29. The business has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.79.

Nine Energy Service (NYSE:NINE) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The company had revenue of $132.40 million during the quarter, compared to analyst estimates of $134.00 million. On average, sell-side analysts expect that Nine Energy Service, Inc. will post -1.3 earnings per share for the current year.

Insider Activity at Nine Energy Service

In other Nine Energy Service news, major shareholder William Monroe bought 470,362 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $1.58 per share, for a total transaction of $743,171.96. Following the acquisition, the insider now directly owns 3,900,000 shares of the company’s stock, valued at approximately $6,162,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 32,036 shares of company stock worth $45,697 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Nine Energy Service

Large investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC bought a new position in Nine Energy Service in the second quarter valued at $31,000. XTX Topco Ltd bought a new stake in shares of Nine Energy Service in the second quarter worth about $32,000. Great Valley Advisor Group Inc. purchased a new position in shares of Nine Energy Service during the second quarter valued at approximately $34,000. Quadrature Capital Ltd bought a new position in Nine Energy Service in the 4th quarter worth $62,000. Finally, Virtu Financial LLC lifted its holdings in Nine Energy Service by 352.9% in the first quarter. Virtu Financial LLC now owns 58,535 shares of the company’s stock worth $131,000 after buying an additional 45,611 shares during the period. 57.61% of the stock is owned by institutional investors.

About Nine Energy Service

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.