Nine Energy Service, Inc. (NYSE:NINE) Sees Large Decline in Short Interest

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Nine Energy Service, Inc. (NYSE:NINE) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 517,700 shares, a decrease of 10.1% from the August 31st total of 576,100 shares. Based on an average daily trading volume, of 252,100 shares, the short-interest ratio is currently 2.1 days. Approximately 2.0% of the shares of the stock are short sold.

Shares of NINE traded up $0.04 during midday trading on Friday, hitting $1.16. 225,801 shares of the company traded hands, compared to its average volume of 349,059. Nine Energy Service has a one year low of $0.38 and a one year high of $10.65. The stock has a market cap of $36.71 million, a PE ratio of -0.06 and a beta of 2.94. The company has a quick ratio of 5.14, a current ratio of 7.20 and a debt-to-equity ratio of 5.25.

Nine Energy Service (NYSE:NINE) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($1.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by ($0.25). The company had revenue of $52.74 million for the quarter, compared to the consensus estimate of $61.96 million. Nine Energy Service had a negative net margin of 100.20% and a negative return on equity of 24.16%. Analysts expect that Nine Energy Service will post -3.36 earnings per share for the current fiscal year.

Nine Energy Service Company Profile

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development across 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.

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