Short Interest in NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Increases By 142.4%

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 43,865 shares, a growth of 142.4% from the April 30th total of 18,098 shares. Based on an average daily volume of 49,001 shares, the short-interest ratio is presently 0.9 days. Approximately 1.9% of the shares of the stock are sold short.

Analyst Ratings Changes

Several brokerages have issued reports on NCSM. Weiss Ratings downgraded shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen downgraded shares of NCS Multistage from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research downgraded shares of NCS Multistage from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

NCS Multistage Trading Up 9.7%

Shares of NCSM traded up $4.13 on Monday, hitting $46.51. 90,958 shares of the stock traded hands, compared to its average volume of 25,320. The company has a quick ratio of 3.48, a current ratio of 5.35 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $121.86 million, a P/E ratio of 6.73 and a beta of 0.17. The stock’s 50 day moving average is $59.27 and its two-hundred day moving average is $47.76. NCS Multistage has a 1 year low of $28.64 and a 1 year high of $87.36.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($1.47). The firm had revenue of $45.64 million for the quarter, compared to analysts’ expectations of $51.22 million. NCS Multistage had a net margin of 10.78% and a return on equity of 6.58%. As a group, sell-side analysts predict that NCS Multistage will post 3.42 earnings per share for the current year.

Hedge Funds Weigh In On NCS Multistage

Institutional investors and hedge funds have recently modified their holdings of the company. Tucker Asset Management LLC purchased a new position in shares of NCS Multistage during the fourth quarter valued at approximately $34,000. PNC Financial Services Group Inc. increased its position in NCS Multistage by 342.6% during the third quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after purchasing an additional 668 shares during the last quarter. Heron Bay Capital Management acquired a new position in NCS Multistage during the third quarter worth approximately $222,000. Bank of New York Mellon Corp acquired a new position in NCS Multistage during the first quarter worth approximately $223,000. Finally, NewEdge Advisors LLC increased its position in NCS Multistage by 3,774.4% during the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after purchasing an additional 7,964 shares during the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.

NCS Multistage Company Profile

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.