Short Interest in NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Declines By 31.5%

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totaling 7,600 shares, a decline of 31.5% from the September 30th total of 11,100 shares. Based on an average daily trading volume, of 14,600 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.1% of the company’s stock are short sold. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 14,600 shares, the days-to-cover ratio is currently 0.5 days.

Wall Street Analyst Weigh In

NCSM has been the topic of several analyst reports. Zacks Research cut shares of NCS Multistage from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of NCS Multistage in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, NCS Multistage currently has a consensus rating of “Hold”.

NCS Multistage Stock Up 15.5%

Shares of NCSM opened at $42.39 on Tuesday. NCS Multistage has a 52 week low of $19.17 and a 52 week high of $53.69. The firm has a market cap of $107.71 million, a P/E ratio of 9.34 and a beta of 0.75. The firm’s 50-day simple moving average is $44.00 and its 200 day simple moving average is $35.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.83 and a current ratio of 4.66.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.20. NCS Multistage had a net margin of 6.89% and a return on equity of 12.27%. The business had revenue of $46.54 million for the quarter, compared to analyst estimates of $46.10 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC grew its stake in NCS Multistage by 7.3% in the 1st quarter. Empowered Funds LLC now owns 21,489 shares of the company’s stock valued at $752,000 after buying an additional 1,455 shares during the last quarter. Bailard Inc. grew its stake in NCS Multistage by 26.1% in the 3rd quarter. Bailard Inc. now owns 8,687 shares of the company’s stock valued at $444,000 after buying an additional 1,800 shares during the last quarter. NewEdge Advisors LLC lifted 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 acquiring an additional 7,964 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of NCS Multistage during the 2nd quarter worth approximately $430,000. Institutional investors and hedge funds own 70.91% of the company’s stock.

About NCS Multistage

NCS Multistage Holdings, Inc provides engineered products and support services for oil and natural gas well completions and construction, and field development strategies in the United States, Canada, and internationally. It offers fracturing systems, which include casing-installed sliding sleeves, downhole frac isolation assemblies, and sand jet perforating products; enhanced recovery products, such as sliding sleeve, as well as Terrus system, an injection control device; repeat precision products comprising composite frac plugs and bridge plugs, single-use disposable setting tools, express systems, and related products; chemical and radioactive tracer diagnostics services; and well construction products, including AirLock casing buoyancy system, Vecturon and Vectraset liner hanger systems, and Toe initiation sleeves.