Nine Energy Service, Inc. (NYSE:NINE) Sees Significant Drop in Short Interest

Nine Energy Service, Inc. (NYSE:NINE) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 2,510,000 shares, a drop of 33.8% from the December 31st total of 3,790,000 shares. Approximately 8.2% of the shares of the stock are sold short. Based on an average daily volume of 1,210,000 shares, the short-interest ratio is presently 2.1 days.

Insider Activity

In other news, insider Ann G. Fox sold 60,358 shares of Nine Energy Service stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $1.00, for a total value of $60,358.00. Following the transaction, the insider now owns 697,935 shares in the company, valued at approximately $697,935. This trade represents a 7.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Guy Sirkes sold 35,380 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.67, for a total value of $59,084.60. Following the sale, the insider now owns 156,966 shares in the company, valued at $262,133.22. This represents a 18.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Nine Energy Service

A hedge fund recently bought a new stake in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC bought a new position in shares of Nine Energy Service, Inc. (NYSE:NINE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,460 shares of the company’s stock, valued at approximately $31,000. Vanguard Personalized Indexing Management LLC owned approximately 0.05% of Nine Energy Service as of its most recent SEC filing. 57.61% of the stock is currently owned by institutional investors.

Nine Energy Service Price Performance

Nine Energy Service stock opened at $1.46 on Wednesday. The stock’s 50 day moving average is $1.27 and its 200 day moving average is $1.28. Nine Energy Service has a one year low of $0.75 and a one year high of $3.26. The firm has a market cap of $61.63 million, a P/E ratio of -1.21 and a beta of 3.54.

About Nine Energy Service

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.