NCS Multistage (NASDAQ:NCSM) Downgraded by Zacks Research to “Strong Sell”

NCS Multistage (NASDAQ:NCSM) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on NCSM. Weiss Ratings lowered shares of NCS Multistage from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Wall Street Zen lowered shares of NCS Multistage from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

NCS Multistage Trading Up 0.2%

Shares of NCS Multistage stock opened at $55.72 on Tuesday. The firm has a market capitalization of $145.99 million, a PE ratio of 8.06 and a beta of 0.17. The company has a current ratio of 5.35, a quick ratio of 3.48 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $58.30 and its 200 day moving average is $48.08. NCS Multistage has a 1 year low of $28.73 and a 1 year high of $87.36.

NCS Multistage (NASDAQ:NCSM) last announced its quarterly 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 the consensus estimate of $51.22 million. NCS Multistage had a net margin of 10.78% and a return on equity of 6.58%. Equities research analysts forecast that NCS Multistage will post 3.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of NCS Multistage by 397,500.0% in the 1st quarter. Bank of America Corp DE now owns 3,976 shares of the company’s stock worth $246,000 after purchasing an additional 3,975 shares during the period. Lazard Asset Management LLC acquired a new position in shares of NCS Multistage in the 1st quarter worth approximately $372,000. Renaissance Technologies LLC lifted its position in shares of NCS Multistage by 17.5% in the 1st quarter. Renaissance Technologies LLC now owns 12,744 shares of the company’s stock worth $788,000 after purchasing an additional 1,900 shares during the period. Walleye Capital LLC acquired a new position in shares of NCS Multistage in the 1st quarter worth approximately $575,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of NCS Multistage by 14.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 23,993 shares of the company’s stock worth $1,484,000 after purchasing an additional 2,949 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.

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.