Nine Energy Service (NYSE:NINE) Shares Down 2.2% – What’s Next?

Shares of Nine Energy Service, Inc. (NYSE:NINE) traded down 2.2% on Monday . The stock traded as low as $1.10 and last traded at $1.13. 237,825 shares traded hands during trading, a decline of 75% from the average session volume of 940,059 shares. The stock had previously closed at $1.15.

Nine Energy Service Stock Down 2.2 %

The firm has a market capitalization of $47.64 million, a price-to-earnings ratio of -0.94 and a beta of 3.58. The firm has a 50 day moving average of $1.22 and a two-hundred day moving average of $1.20.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. XTX Topco Ltd increased its position in shares of Nine Energy Service by 49.9% during the fourth quarter. XTX Topco Ltd now owns 31,657 shares of the company’s stock worth $35,000 after buying an additional 10,541 shares during the period. Northern Trust Corp raised its position in shares of Nine Energy Service by 31.6% during the fourth quarter. Northern Trust Corp now owns 99,142 shares of the company’s stock worth $111,000 after purchasing an additional 23,831 shares during the period. NewEdge Advisors LLC bought a new position in shares of Nine Energy Service in the 4th quarter worth $28,000. Prudential Financial Inc. acquired a new stake in Nine Energy Service in the 4th quarter valued at $32,000. Finally, Legato Capital Management LLC bought a new stake in Nine Energy Service during the 4th quarter valued at $35,000. 57.61% of the stock is owned by institutional investors.

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.