Nine Energy Service, Inc. (NYSE:NINE) Short Interest Update

Nine Energy Service, Inc. (NYSE:NINE) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 3,290,000 shares, an increase of 25.6% from the January 31st total of 2,620,000 shares. Currently, 10.7% of the shares of the company are short sold. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is currently 1.9 days.

Nine Energy Service Price Performance

Shares of Nine Energy Service stock traded up $0.18 on Friday, reaching $1.27. 813,568 shares of the company traded hands, compared to its average volume of 1,981,317. The firm has a market capitalization of $53.72 million, a PE ratio of -1.07 and a beta of 3.58. The company has a 50 day moving average of $1.22 and a 200 day moving average of $1.20. Nine Energy Service has a 52 week low of $0.75 and a 52 week high of $3.26.

Hedge Funds Weigh In On Nine Energy Service

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NINE. Union Square Park Capital Management LLC bought a new stake in Nine Energy Service during the 4th quarter valued at $319,000. Two Sigma Investments LP purchased a new stake in Nine Energy Service in the fourth quarter valued at approximately $53,000. Millennium Management LLC purchased a new position in Nine Energy Service in the 4th quarter worth approximately $107,000. Northern Trust Corp raised its position in shares of Nine Energy Service by 31.6% during the 4th quarter. Northern Trust Corp now owns 99,142 shares of the company’s stock valued at $111,000 after buying an additional 23,831 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Nine Energy Service in the 4th quarter worth about $168,000. 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.