Nine Energy Service Inc. [NINE] gain 308.00% so far this year. What now?


Nine Energy Service Inc. [NYSE: NINE] traded at a high on 06/08/22, posting a 3.55 gain after which it closed the day’ session at $4.08. The company report on May 4, 2022 that Nine Energy Service Announces First Quarter 2022 Results.

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Total liquidity position of $74.6 million as of March 31, 2022.

Revenue, net loss and adjusted EBITDAA of $116.9 million, $(6.9) million and $12.2 million, respectively, for the first quarter of 2022.

The results of the trading session contributed to over 3020627 shares changing hands. Over the past one week, the price volatility of Nine Energy Service Inc. stands at 16.01% while the volatility over the past one month is 12.19%.

The market cap for NINE stock reached $114.40 million, with 30.49 million shares outstanding and 14.88 million shares in the current float. Compared to the average trading volume of 3.23M shares, NINE reached a trading volume of 3020627 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Nine Energy Service Inc. [NINE]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NINE shares is $6.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NINE stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Nine Energy Service Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 15, 2020. The new note on the price target was released on May 18, 2020, representing the official price target for Nine Energy Service Inc. stock. Previously, the target price had yet another drop from $9 to $1.25, while Goldman kept a Neutral rating on NINE stock.

The Average True Range (ATR) for Nine Energy Service Inc. is set at 0.40, with the Price to Sales ratio for NINE stock in the period of the last 12 months amounting to 0.29.

How has NINE stock performed recently?

Nine Energy Service Inc. [NINE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.39. With this latest performance, NINE shares gained by 46.76% in over the last four-week period, additionally plugging by 223.81% over the last 6 months – not to mention a rise of 71.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NINE stock in for the last two-week period is set at 66.59, with the RSI for the last a single of trading hit 70.79, and the three-weeks RSI is set at 63.07 for Nine Energy Service Inc. [NINE]. The present Moving Average for the last 50 days of trading for this stock 3.06, while it was recorded at 3.76 for the last single week of trading, and 2.08 for the last 200 days.

Nine Energy Service Inc. [NINE]: Deeper insight into the fundamentals

Nine Energy Service Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 2.30.

Insider trade positions for Nine Energy Service Inc. [NINE]

There are presently around $62 million, or 47.50% of NINE stock, in the hands of institutional investors. The top three institutional holders of NINE stocks are: SCF PARTNERS, INC. with ownership of 9,086,884, which is approximately 0% of the company’s market cap and around 6.80% of the total institutional ownership; CLARITY FINANCIAL LLC, holding 2,642,680 shares of the stock with an approximate value of $10.78 million in NINE stocks shares; and FRANKLIN RESOURCES INC, currently with $2.7 million in NINE stock with ownership of nearly -38.748% of the company’s market capitalization.

19 institutional holders increased their position in Nine Energy Service Inc. [NYSE:NINE] by around 649,202 shares. Additionally, 22 investors decreased positions by around 3,424,636 shares, while 8 investors held positions by with 11,185,432 shares. The mentioned changes placed institutional holdings at 15,259,270 shares, according to the latest SEC report filing. NINE stock had 13 new institutional investments in for a total of 302,738 shares, while 9 institutional investors sold positions of 969,444 shares during the same period.