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Aug 07, 2023

Icon Wealth Partners LLC Purchases New Shares in Nine Energy Service, Inc. (NYSE:NINE)

Icon Wealth Partners LLC purchased a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE - Free Report) during the first quarter, according to the company in its most recent disclosure with

Icon Wealth Partners LLC purchased a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 26,730 shares of the company's stock, valued at approximately $149,000. Icon Wealth Partners LLC owned approximately 0.08% of Nine Energy Service as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of NINE. Bank of New York Mellon Corp raised its stake in 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Nine Energy Service by 14.7% in the first quarter. Vanguard Group Inc. now owns 603,076 shares of the company's stock valued at $2,255,000 after acquiring an additional 77,207 shares during the period. XTX Topco Ltd purchased a new stake in shares of Nine Energy Service in the first quarter valued at $67,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Nine Energy Service in the first quarter valued at $75,000. Finally, Millennium Management LLC purchased a new stake in shares of Nine Energy Service in the second quarter valued at $215,000. Hedge funds and other institutional investors own 55.14% of the company's stock.

Shares of NINE opened at $3.84 on Friday. Nine Energy Service, Inc. has a twelve month low of $2.30 and a twelve month high of $17.10. The company has a market cap of $135.57 million, a P/E ratio of 9.13 and a beta of 3.41. The company's fifty day simple moving average is $4.28 and its 200-day simple moving average is $5.29.

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

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

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

View Our Latest Research Report on NINE

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.

Want to see what other hedge funds are holding NINE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nine Energy Service, Inc. (NYSE:NINE - Free Report).

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