Short Interest in Nine Energy Service, Inc. (NYSE:NINE) Increases By 123.4%

Nine Energy Service, Inc. (NYSE:NINE) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 5,463,776 shares, an increase of 123.4% from the January 15th total of 2,445,502 shares. Currently, 13.1% of the shares of the company are sold short. Based on an average daily volume of 3,884,985 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily volume of 3,884,985 shares, the days-to-cover ratio is presently 1.4 days. Currently, 13.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Nine Energy Service

Several institutional investors have recently modified their holdings of NINE. Williams & Novak LLC purchased a new stake in Nine Energy Service in the fourth quarter worth approximately $37,000. Two Sigma Investments LP bought a new stake in shares of Nine Energy Service in the 3rd quarter worth approximately $47,000. State Street Corp lifted its holdings in shares of Nine Energy Service by 106.2% in the 4th quarter. State Street Corp now owns 132,583 shares of the company’s stock worth $47,000 after acquiring an additional 68,300 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of Nine Energy Service in the 2nd quarter valued at $73,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Nine Energy Service by 12.8% during the 3rd quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock valued at $176,000 after purchasing an additional 31,562 shares during the last quarter. 57.61% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NINE has been the subject of a number of recent research reports. Wall Street Zen lowered Nine Energy Service to a “strong sell” rating in a report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nine Energy Service in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Nine Energy Service Price Performance

Shares of NYSE:NINE remained flat at $0.59 during trading on Friday. The stock has a 50-day moving average of $0.44 and a 200 day moving average of $0.55. The firm has a market capitalization of $25.42 million, a PE ratio of -0.59 and a beta of 2.22. Nine Energy Service has a fifty-two week low of $0.25 and a fifty-two week high of $1.55.

Nine Energy Service Company Profile

Nine Energy Service, Inc (NYSE: NINE) is a Houston, Texas–based oilfield services company specializing in completion and production equipment and services for the upstream oil and gas industry. The company traces its roots to the Keane Group, a wireline and completion‐service provider founded in the late 1990s, and was rebranded as Nine Energy Service in 2017 following a corporate realignment. Today, Nine offers an integrated suite of services that spans the full life cycle of a well.

Nine Energy Service’s core offerings include hydraulic fracturing horsepower, high‐pressure fluid pumps, nitrogen pumping units, and sand management systems.