why Nine Energy Service Inc. [NINE] is a Good Choice for Investors After New Price Target of $18.00

Nine Energy Service Inc. [NYSE: NINE] closed the trading session at $13.36 on 01/26/23. The day’s price range saw the stock hit a low of $12.52, while the highest price level was $14.23. The company report on January 25, 2023 that Nine Energy Service Announces Timing of Fourth Quarter and Full Year 2022 Earnings Release and Conference Call.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Nine Energy Service, Inc. (NYSE:NINE) announced today that it has scheduled its fourth quarter and full year 2022 earnings conference call for Wednesday, March 8, 2023 at 9:00 am Central Time. During the call, Nine will discuss its financial and operating results for the quarter and full year ended December 31, 2022, which are expected to be released prior to the conference call.

Participants may join the live conference call by dialing U.S. (Toll Free): (877) 524-8416 or International: (412) 902-1028 and asking for the “Nine Energy Service Earnings Call.” Participants are encouraged to dial into the conference call ten to fifteen minutes before the scheduled start time to avoid any delays entering the earnings call.

The stocks have a year to date performance of -8.05 percent and weekly performance of -8.74 percent. The stock has been moved at 394.81 percent over the last six months. The stock has performed -2.98 percent around the most recent 30 days and changed 169.35 percent over the most recent 3-months.

If compared to the average trading volume of 1.87M shares, NINE reached to a volume of 2407612 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $18.00 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 2.50. 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 1.46, with the Price to Sales ratio for NINE stock in the period of the last 12 months amounting to 0.82.

NINE stock trade performance evaluation

Nine Energy Service Inc. [NINE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.74. With this latest performance, NINE shares dropped by -2.98% in over the last four-week period, additionally plugging by 394.81% over the last 6 months – not to mention a rise of 889.63% 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 51.77, with the RSI for the last a single of trading hit 47.63, and the three-weeks RSI is set at 54.40 for Nine Energy Service Inc. [NINE]. The present Moving Average for the last 50 days of trading for this stock 11.56, while it was recorded at 13.48 for the last single week of trading, and 5.39 for the last 200 days.

Nine Energy Service Inc. [NINE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Nine Energy Service Inc. [NINE] shares currently have an operating margin of -13.54 and a Gross Margin at -1.03. Nine Energy Service Inc.’s Net Margin is presently recorded at -18.48.

Nine Energy Service Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.80.

Nine Energy Service Inc. [NINE]: Insider Ownership positions

There are presently around $233 million, or 52.70% 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 4.60% of the total institutional ownership; CLARITY FINANCIAL LLC, holding 4,218,534 shares of the stock with an approximate value of $56.36 million in NINE stocks shares; and FRANKLIN RESOURCES INC, currently with $9.43 million in NINE stock with ownership of nearly 6.504% of the company’s market capitalization.

Positions in Nine Energy Service Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 27 institutional holders increased their position in Nine Energy Service Inc. [NYSE:NINE] by around 2,530,094 shares. Additionally, 16 investors decreased positions by around 542,491 shares, while 11 investors held positions by with 14,393,379 shares. The mentioned changes placed institutional holdings at 17,465,964 shares, according to the latest SEC report filing. NINE stock had 9 new institutional investments in for a total of 343,247 shares, while 5 institutional investors sold positions of 107,584 shares during the same period.


Please enter your comment!
Please enter your name here