Perhaps timely catching Nine Energy Service Inc. (NINE) would be a good idea

Nine Energy Service Inc. (NYSE: NINE) stock fell -9.78% on Monday to $13.38 against a previous-day closing price of $14.83. With 2.3 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.81 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $15.13 whereas the lowest price it dropped to was $13.28. The 52-week range on NINE shows that it touched its highest point at $17.10 and its lowest point at $0.91 during that stretch. It currently has a 1-year price target of $18.00. Beta for the stock currently stands at 3.44.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NINE was down-trending over the past week, with a drop of -18.17%, but this was up by 26.82% over a month. Three-month performance surged to 223.19% while six-month performance rose 502.70%. The stock gained 1116.36% in the past year, while it has lost -7.91% so far this year. A look at the trailing 12-month EPS for NINE yields -0.33 with Next year EPS estimates of 2.24. For the next quarter, that number is 0.36. This implies an EPS growth rate of 83.30% for this year and 300.00% for next year.

Float and Shares Shorts:

At present, 31.10 million NINE shares are outstanding with a float of 15.49 million shares on hand for trading. On Oct 13, 2022, short shares totaled 2.18 million, which was 6.52% higher than short shares on Sep 14, 2022. In addition to Ms. Ann G. Fox as the firm’s Pres, CEO & Director, Mr. Guy Sirkes serves as its Sr. VP & CFO.


Institutional Ownership:

Through their ownership of 47.07% of NINE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.23% of NINE, in contrast to 46.40% held by mutual funds. Shares owned by individuals account for 44.28%. As the largest shareholder in NINE with 27.35% of the stake, SCF Partners, Inc. holds 9,086,884 shares worth 9,086,884. A second-largest stockholder of NINE, Clarity Financial LLC, holds 4,218,534 shares, controlling over 12.70% of the firm’s shares. Franklin Advisers, Inc. is the third largest shareholder in NINE, holding 705,758 shares or 2.12% stake. With a 1.53% stake in NINE, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 508,263 shares are owned by the mutual fund manager. The FTIF SICAV – Franklin Natural Res, which owns about 1.13% of NINE stock, is the second-largest Mutual Fund holder. It holds 373,666 shares valued at 5.43 million. Bridgeway Ultra Small Company Mar holds 1.03% of the stake in NINE, owning 342,700 shares worth 4.98 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NINE since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NINE analysts setting a high price target of $18.00 and a low target of $18.00, the average target price over the next 12 months is $18.00. Based on these targets, NINE could surge 34.53% to reach the target high and rise by 34.53% to reach the target low. Reaching the average price target will result in a growth of 34.53% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NINE will report FY 2022 earnings on 03/05/2024. Analysts have provided yearly estimates in a range of $0.56 being high and $0.53 being low. For NINE, this leads to a yearly average estimate of $0.55. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Nine Energy Service Inc. surprised analysts by $0.26 when it reported $0.42 EPS against a consensus estimate of $0.16. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is $0.36 and the low estimate is $0.34. The average estimate for the next quarter is thus $0.35.

Summary of Insider Activity:

Insiders traded NINE stock several times over the past three months with 0 Buys and 10 Sells. In these transactions, 0 shares were bought while 769,447 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 31 over the past year. The total number of shares bought during that period was 406,976 while 953,211 shares were sold.

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