Blog

Aug 10, 2023

Barclays PLC Takes Position in Nine Energy Service, Inc. (NYSE:NINE)

Barclays PLC bought a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission

Barclays PLC bought a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 76,978 shares of the company's stock, valued at approximately $428,000. Barclays PLC owned about 0.22% of Nine Energy Service as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NINE. Bank of New York Mellon Corp lifted its holdings in shares of Nine Energy Service by 275.6% during the first quarter. Bank of New York Mellon Corp now owns 117,133 shares of the company's stock valued at $438,000 after purchasing an additional 85,948 shares during the last quarter. Vanguard Group Inc. raised its position in Nine Energy Service by 14.7% during the first quarter. Vanguard Group Inc. now owns 603,076 shares of the company's stock valued at $2,255,000 after buying an additional 77,207 shares during the period. XTX Topco Ltd acquired a new position in Nine Energy Service during the first quarter valued at $67,000. Jaffetilchin Investment Partners LLC acquired a new position in Nine Energy Service during the first quarter valued at $75,000. Finally, Millennium Management LLC acquired a new position in Nine Energy Service during the second quarter valued at $215,000. 57.59% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Guy Sirkes sold 52,879 shares of the company's stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $4.32, for a total transaction of $228,437.28. Following the completion of the sale, the insider now owns 155,170 shares in the company, valued at approximately $670,334.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Guy Sirkes sold 52,879 shares of the company's stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $4.32, for a total transaction of $228,437.28. Following the completion of the sale, the insider now owns 155,170 shares in the company, valued at approximately $670,334.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David Crombie sold 40,657 shares of the company's stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $4.60, for a total value of $187,022.20. Following the sale, the insider now owns 209,075 shares of the company's stock, valued at approximately $961,745. The disclosure for this sale can be found here. Insiders have sold a total of 96,169 shares of company stock valued at $428,361 in the last three months. Insiders own 6.20% of the company's stock.

Separately, TheStreet raised Nine Energy Service from a "d" rating to a "c-" rating in a research report on Friday, August 4th.

Get Our Latest Analysis on Nine Energy Service

NYSE:NINE opened at $4.27 on Tuesday. The firm has a market capitalization of $150.94 million, a price-to-earnings ratio of 10.17 and a beta of 3.41. Nine Energy Service, Inc. has a 1-year low of $2.30 and a 1-year high of $17.10. The business's fifty day moving average price is $4.32 and its 200 day moving average price is $5.11.

Nine Energy Service (NYSE:NINE - Get Free Report) last issued its earnings results on Thursday, August 3rd. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Nine Energy Service had a negative return on equity of 90.54% and a net margin of 2.07%. The firm had revenue of $161.43 million during the quarter, compared to analyst estimates of $161.90 million. Equities analysts forecast that Nine Energy Service, Inc. will post -0.54 earnings per share for the current year.

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, which consist of 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Nine Energy Service, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nine Energy Service wasn't on the list.

While Nine Energy Service currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.