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

Nine Energy Service, Inc. (NYSE:NINE) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 2,510,000 shares, a decrease of 33.8% from the December 15th total of 3,790,000 shares. Currently, 8.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is currently 2.1 days.

Nine Energy Service Trading Down 2.0 %

NYSE:NINE opened at $1.25 on Tuesday. The company has a 50 day simple moving average of $1.25 and a two-hundred day simple moving average of $1.31. The company has a market cap of $52.74 million, a PE ratio of -1.04 and a beta of 3.54. Nine Energy Service has a 12 month low of $0.75 and a 12 month high of $3.26.

Insider Activity

In other Nine Energy Service news, major shareholder William Monroe acquired 435,000 shares of Nine Energy Service stock in a transaction that occurred on Tuesday, November 19th. The stock was bought at an average cost of $1.19 per share, for a total transaction of $517,650.00. Following the acquisition, the insider now owns 4,335,000 shares of the company’s stock, valued at $5,158,650. This represents a 11.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Guy Sirkes sold 35,380 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.67, for a total transaction of $59,084.60. Following the transaction, 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 Inflows and Outflows

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

Nine Energy Service Company Profile

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.