Nine Energy Service Inc (NYSE:NINE) price on Thursday, March 28, fall -0.88% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.24.
A look at the stock’s price movement, the close in the last trading session was $2.26. The beta value (5-Year monthly) was 3.41. Turning to its 52-week performance, $6.73 and $1.78 were the 52-week high and 52-week low respectively. Overall, NINE moved 4.67% over the past month.
Nine Energy Service Inc’s market cap currently stands at around $79.12 million, with investors looking forward to this quarter’s earnings report slated for May 06, 2024 – May 10, 2024. Analysts project the company’s earnings per share (EPS) to be -$0.32, which has seen fiscal year 2024 EPS growth forecast to increase to -$0.78 and about -$0.56 for fiscal year 2025. Per the data, EPS growth is expected to be 13.30% for 2024 and 28.20% for the next financial year.
Analysts have a consensus estimate of $141.9 million for the company’s revenue for the quarter, with a low and high estimate of $141.9 million and $141.9 million respectively. The average forecast suggests down to a -13.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $615.65 million, representing a 1.00% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that NINE is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
NINE’s current price about 3.63% and 0.26% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 52.96, while 7-day volatility ratio is 6.73% and 7.40% in the 30-day chart. Further, Nine Energy Service Inc (NINE) has a beta value of 3.42, and an average true range (ATR) of 0.15.
If we refocus on Nine Energy Service Inc (NYSE:NINE), historical trading data shows that trading volumes averaged 0.4 million over the past 10 days and 647.20K over the past 3 months. The company’s latest data on shares outstanding shows there are 35.32 million shares.
The 18.35% of Nine Energy Service Inc’s shares are in the hands of company insiders while institutional holders own 57.77% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.86 million on Mar 15, 2024, giving us a short ratio of 4.92. The data shows that as of Mar 15, 2024 short interest in Nine Energy Service Inc (NINE) stood at 8.10% of shares outstanding, with shares short falling to 3.21 million registered in Feb 15, 2024. Current price change has pushed the stock -16.42% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NINE stock continues to rise going into the next quarter.
