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Tuesday, June 6, 2023

Nine Energy Service Inc. (NYSE: NINE): Is It A Buying Opportunity Again?

After Hours

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. After-hours trades for Nine Energy Service Inc. (NINE) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.07, or -2.05%, to $3.35. The Nine Energy Service Inc. has recorded 3,500 volume in the after hours trading session. The stock was recently discussed on Yahoo Finance as it revealed that Nine Energy Service Announces First Quarter 2023 Results.

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Stocks Info

NINE belongs to the Energy sector of the NYSE while operating in the Oil & Gas Equipment & Services industry. At the end of the last regular session, the stock closed at $3.42 and fluctuated between $3.6000 as its day high and $3.3301 as its day low. The current market capitalization of Nine Energy Service Inc. is $113.89M. A total of 0.98 million shares were traded on the day, compared to an average of 940.80K shares.

Insider Activity

Investors also take into account insider trades in predicting how the stock will perform in the future. During the recent three months, NINE has seen 0 BUY and 12 SELL insider trades, representing the acquisition of 0 and the disposition of 707,090 shares. Over the last 12 months, there were 0 BUYs and 29 SELLs from insiders. Insiders purchased 0 shares during that period but sold 1,666,588.

In the most recent transaction, Willis Darryl Keith bought 3,355 shares of NINE for 2.98 per share on May 16. After the transaction, the Director now owns 25,332 company shares. In a previous transaction on May 03, Fox Ann G sold 15,485 shares at 3.48 per share. NINE shares that insider owns now total 635,914.

Among the insiders who sold shares, Crombie David disposed of 10,827 shares on May 03 at a per-share price of $3.48. This resulted in the insider holding 252,925 shares of NINE after the transaction. In another insider transaction, Sirkes Guy sold 3,786 shares at $3.48 per share on May 03. Company shares held by the insider now total 159,949.

While price targets are rarely accurate, they tend to exert some kind of influence from time to time and are often taken into account by investors. According to analysts who have offered 12-month price targets for NINE in the last 3 months, the mean price target is $8.25 with high estimates of $9.50 and low estimates of $7.00. In terms of 52-week highs and lows, NINE has a high of $17.10 and a low of $2.03.

As of this writing, NINE has an earnings estimate of -$0.01 per share for the current quarter. EPS was calculated based on a consensus of 1 estimates, with a high estimate of -$0.01 per share and a lower estimate of -$0.01. The company reported an EPS of $0.29 in the last quarter, which was -14.70% lower than expectations of $0.34.

Balance Sheet Annually/Quarterly

An organization’s balance sheet depicts the assets and liabilities it has, as well as the amount of equity invested. Investors can measure a company’s prospects by calculating its financial ratios using this information. NINE’s latest balance sheet shows that the firm has $21.51M in Cash & Short Term Investments as of fiscal 2021. There were $372.07M in debt and $56.45M in liabilities at the time. Its Book Value Per Share was -$0.35, while its Total Shareholder’s Equity was -$39.27M.

Analysts Opinion

There is a slight risk associated with trading before and after the market open. Due to lower liquidity and higher volatility, extended-hours trading may result in wider spreads on particular security due to the release of critical financial information after regular trading hours. Currently, 0 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for NINE is Buy with a score of 4.00.

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