Nine Energy Service (NYSE:NINE) Shares Up 16.3% – What’s Next?

Shares of Nine Energy Service, Inc. (NYSE:NINE) rose 16.3% during trading on Friday . The company traded as high as $1.59 and last traded at $1.43. Approximately 7,669,398 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 5,176,599 shares. The stock had previously closed at $1.23.

Nine Energy Service Stock Up 16.3 %

The stock has a market capitalization of $60.58 million, a PE ratio of -1.19 and a beta of 3.50. The firm’s fifty day moving average price is $1.20 and its two-hundred day moving average price is $1.32.

Insider Transactions at Nine Energy Service

In related news, insider Guy Sirkes sold 35,380 shares of the business’s stock in a transaction that occurred 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 directly owns 156,966 shares in the company, valued at approximately $262,133.22. The trade was a 18.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William Monroe purchased 435,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was acquired at an average price of $1.19 per share, for a total transaction of $517,650.00. Following the completion of the transaction, the insider now directly owns 4,335,000 shares of the company’s stock, valued at approximately $5,158,650. This trade represents a 11.15 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Nine Energy Service

An institutional investor recently bought a new position in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Nine Energy Service, Inc. (NYSE:NINE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,460 shares of the company’s stock, valued at approximately $31,000. Vanguard Personalized Indexing Management LLC owned about 0.05% of Nine Energy Service as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 57.61% of the company’s stock.

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.