Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Buys $222,852.94 in Stock

Nine Energy Service, Inc. (NYSE:NINE) major shareholder William Monroe purchased 152,639 shares of Nine Energy Service stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $1.46 per share, with a total value of $222,852.94. Following the transaction, the insider now directly owns 3,152,639 shares of the company’s stock, valued at $4,602,852.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

William Monroe also recently made the following trade(s):

• On Monday, June 17th, William Monroe acquired 25,000 shares of Nine Energy Service stock. The stock was bought at an average cost of $1.47 per share, for a total transaction of $36,750.00.
• On Thursday, June 6th, William Monroe bought 765,488 shares of Nine Energy Service stock. The shares were bought at an average cost of $1.61 per share, with a total value of $1,232,435.68.

Nine Energy Service Stock Performance

Shares of Nine Energy Service stock opened at $1.79 on Friday. The firm has a fifty day simple moving average of $1.83 and a 200-day simple moving average of $2.19. Nine Energy Service, Inc. has a 1-year low of $1.37 and a 1-year high of $5.59.

Nine Energy Service (NYSE:NINE) last released its earnings results on Monday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08. The firm had revenue of $142.12 million for the quarter, compared to analyst estimates of $141.90 million. Equities research analysts anticipate that Nine Energy Service, Inc. will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Nine Energy Service

Several hedge funds have recently added to or reduced their stakes in the business. Clarity Financial LLC increased its position in Nine Energy Service by 53.8% in the 4th quarter. Clarity Financial LLC now owns 2,471,249 shares of the company’s stock worth $6,623,000 after buying an additional 864,455 shares during the period. Cannell Capital LLC bought a new position in Nine Energy Service during the third quarter worth $3,235,000. CastleKnight Management LP acquired a new position in Nine Energy Service during the 4th quarter valued at $657,000. Gendell Jeffrey L raised its stake in Nine Energy Service by 6.7% during the 4th quarter. Gendell Jeffrey L now owns 3,313,322 shares of the company’s stock valued at $8,880,000 after purchasing an additional 209,407 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Nine Energy Service in the 3rd quarter valued at $288,000. Institutional investors own 57.61% of the company’s stock.

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.