Nine Energy Service (NYSE:NINE) Trading Up 16.3% – Time to Buy?

Nine Energy Service, Inc. (NYSE:NINE) shares rose 16.3% on Friday . The stock traded as high as $1.59 and last traded at $1.43. Approximately 7,669,398 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 5,176,599 shares. The stock had previously closed at $1.23.

Nine Energy Service Price Performance

The company has a market cap of $60.58 million, a P/E ratio of -1.19 and a beta of 3.50. The firm’s 50-day moving average is $1.20 and its two-hundred day moving average is $1.32.

Insider Transactions at Nine Energy Service

In related news, insider Guy Sirkes sold 35,380 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.67, for a total transaction of $59,084.60. Following the sale, the insider now owns 156,966 shares in the company, valued at approximately $262,133.22. This represents a 18.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William Monroe acquired 435,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $1.19 per share, with a total value of $517,650.00. Following the completion of the purchase, the insider now directly owns 4,335,000 shares of the company’s stock, valued at $5,158,650. This trade represents a 11.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Nine Energy Service

An institutional investor recently bought a new position in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC acquired a new stake in Nine Energy Service, Inc. (NYSE:NINE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,460 shares of the company’s stock, valued at approximately $31,000. Vanguard Personalized Indexing Management LLC owned about 0.05% of Nine Energy Service as of its most recent SEC filing. Institutional investors and hedge funds own 57.61% of the company’s stock.

Nine Energy Service Company Profile

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.