NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Significant Decline in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 39,957 shares, a drop of 39.0% from the July 30th total of 65,493 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average daily trading volume, of 6,205 shares, the short-interest ratio is presently 6.4 days.

NCS Multistage Stock Performance

NASDAQ NCSM remained flat at $53.35 during midday trading on Tuesday. The company’s stock had a trading volume of 30,196 shares, compared to its average volume of 5,515. The stock has a market cap of $139.78 million, a P/E ratio of 10.98 and a beta of 0.17. The company has a quick ratio of 2.65, a current ratio of 4.27 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $46.99 and a 200-day moving average of $52.06. NCS Multistage has a 52-week low of $34.06 and a 52-week high of $87.36.

NCS Multistage (NASDAQ:NCSM) last released its earnings results on Thursday, July 30th. The company reported ($1.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.83). NCS Multistage had a net margin of 7.61% and a return on equity of 2.40%. The company had revenue of $38.36 million for the quarter, compared to the consensus estimate of $37.60 million. On average, equities analysts anticipate that NCS Multistage will post 2.53 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NCSM. Weiss Ratings reissued a “hold (c)” rating on shares of NCS Multistage in a research report on Friday, August 21st. Wall Street Zen raised shares of NCS Multistage to a “hold” rating in a research report on Saturday, July 18th. Finally, Zacks Research upgraded shares of NCS Multistage from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, NCS Multistage currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On NCS Multistage

Several hedge funds have recently bought and sold shares of NCSM. Tucker Asset Management LLC acquired a new stake in shares of NCS Multistage during the 4th quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its stake 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. Bank of New York Mellon Corp bought a new position in shares of NCS Multistage in the 1st quarter valued at $223,000. NewEdge Advisors LLC raised its holdings in shares of NCS Multistage by 3,774.4% during the 2nd quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after buying an additional 7,964 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of NCS Multistage by 397,500.0% during the 1st quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock worth $246,000 after buying an additional 3,975 shares during the last quarter. 70.91% of the stock is owned by institutional investors.

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.