Nine Energy Service (NYSE:NINE) Stock Rating Lowered by Wall Street Zen

Nine Energy Service (NYSE:NINE) was downgraded by research analysts at Wall Street Zen to a “strong sell” rating in a report released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nine Energy Service in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Nine Energy Service Trading Down 6.1%

NINE opened at $0.47 on Friday. The firm has a market cap of $20.42 million, a price-to-earnings ratio of -0.47 and a beta of 2.22. Nine Energy Service has a 12 month low of $0.29 and a 12 month high of $1.78. The stock has a fifty day moving average price of $0.41 and a 200-day moving average price of $0.59.

Nine Energy Service (NYSE:NINE) last issued its quarterly earnings data on Thursday, October 30th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.05). The company had revenue of $132.03 million during the quarter, compared to the consensus estimate of $139.16 million. On average, equities research analysts forecast that Nine Energy Service will post -1.12 EPS for the current year.

Hedge Funds Weigh In On Nine Energy Service

Hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in Nine Energy Service in the 3rd quarter worth approximately $47,000. Truist Financial Corp acquired a new position in Nine Energy Service during the 2nd quarter valued at approximately $73,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Nine Energy Service by 12.8% in the third quarter. GSA Capital Partners LLP now owns 278,509 shares of the company’s stock worth $176,000 after buying an additional 31,562 shares during the last quarter. Institutional investors and hedge funds own 57.61% of the company’s stock.

Nine Energy Service Company Profile

Nine Energy Service, Inc (NYSE: NINE) is a Houston, Texas–based oilfield services company specializing in completion and production equipment and services for the upstream oil and gas industry. The company traces its roots to the Keane Group, a wireline and completion‐service provider founded in the late 1990s, and was rebranded as Nine Energy Service in 2017 following a corporate realignment. Today, Nine offers an integrated suite of services that spans the full life cycle of a well.

Nine Energy Service’s core offerings include hydraulic fracturing horsepower, high‐pressure fluid pumps, nitrogen pumping units, and sand management systems.