NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Short Interest Up 142.4% in May

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 43,865 shares, a growth of 142.4% from the April 30th total of 18,098 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 49,001 shares, the days-to-cover ratio is presently 0.9 days.

NCS Multistage Trading Down 1.8%

NASDAQ:NCSM traded down $0.78 during mid-day trading on Friday, hitting $42.38. The company had a trading volume of 14,026 shares, compared to its average volume of 33,597. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.48 and a current ratio of 5.35. NCS Multistage has a fifty-two week low of $28.64 and a fifty-two week high of $87.36. The firm has a market cap of $111.04 million, a P/E ratio of 6.13 and a beta of 0.25. The business’s fifty day moving average is $59.27 and its two-hundred day moving average is $47.69.

NCS Multistage (NASDAQ:NCSM) last posted its earnings results on Wednesday, April 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($1.47). The company had revenue of $45.64 million for the quarter, compared to analyst estimates of $51.22 million. NCS Multistage had a return on equity of 6.58% and a net margin of 10.78%. As a group, research analysts expect that NCS Multistage will post 3.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NCSM. Tucker Asset Management LLC bought a new stake in NCS Multistage in the 4th quarter valued at $34,000. PNC Financial Services Group Inc. increased its holdings in NCS Multistage by 342.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 863 shares of the company’s stock worth $44,000 after purchasing an additional 668 shares in the last quarter. Heron Bay Capital Management acquired a new stake in shares of NCS Multistage in the 3rd quarter valued at about $222,000. Bank of New York Mellon Corp bought a new stake in shares of NCS Multistage in the first quarter valued at about $223,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of NCS Multistage by 3,774.4% in the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock valued at $241,000 after purchasing an additional 7,964 shares in the last quarter. Institutional investors and hedge funds own 70.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NCSM. Weiss Ratings lowered shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of NCS Multistage from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered shares of NCS Multistage from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.