Insider Buying: Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Purchases 25,000 Shares of Stock

Nine Energy Service, Inc. (NYSE:NINEGet Free Report) major shareholder William Monroe purchased 25,000 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average cost of $1.47 per share, for a total transaction of $36,750.00. Following the transaction, the insider now owns 3,429,638 shares of the company’s stock, valued at $5,041,567.86. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

William Monroe also recently made the following trade(s):

  • On Thursday, June 13th, William Monroe acquired 152,639 shares of Nine Energy Service stock. The shares were bought at an average cost of $1.46 per share, with a total value of $222,852.94.
  • On Thursday, June 6th, William Monroe acquired 765,488 shares of Nine Energy Service stock. The stock was bought at an average cost of $1.61 per share, for a total transaction of $1,232,435.68.

Nine Energy Service Price Performance

NINE stock traded up $0.16 during trading hours on Tuesday, reaching $1.76. 1,213,535 shares of the stock were exchanged, compared to its average volume of 684,865. The firm’s 50-day moving average is $1.88 and its 200-day moving average is $2.20. Nine Energy Service, Inc. has a 12 month low of $1.37 and a 12 month high of $5.59. The company has a market cap of $62.18 million, a price-to-earnings ratio of -1.74 and a beta of 3.36.

Nine Energy Service (NYSE:NINEGet Free Report) last released its quarterly earnings results on Monday, May 6th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.08. The firm had revenue of $142.12 million for the quarter, compared to analyst estimates of $141.90 million. As a group, equities research analysts forecast that Nine Energy Service, Inc. will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Nine Energy Service

A number of large investors have recently modified their holdings of the business. Barclays PLC bought a new stake in shares of Nine Energy Service during the 3rd quarter worth approximately $126,000. Kestra Advisory Services LLC raised its position in Nine Energy Service by 23.8% during the third quarter. Kestra Advisory Services LLC now owns 44,635 shares of the company’s stock worth $184,000 after acquiring an additional 8,576 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Nine Energy Service in the third quarter valued at $288,000. Cannell Capital LLC bought a new position in shares of Nine Energy Service in the 3rd quarter valued at about $3,235,000. Finally, Citigroup Inc. bought a new position in shares of Nine Energy Service in the 3rd quarter valued at about $164,000. 57.61% of the stock is currently owned by institutional investors and hedge funds.

About Nine Energy Service

(Get Free Report)

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development in North American basins and internationally. It offers cementing services, including blending high-grade cement and water with various solid and liquid additives to create a cement slurry that is pumped between the casing and the wellbore of the well.

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Insider Buying and Selling by Quarter for Nine Energy Service (NYSE:NINE)

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