Nine Energy Service, Inc. (NYSE:NINE) Short Interest Update

Nine Energy Service, Inc. (NYSE:NINE) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,290,000 shares, a growth of 25.6% from the January 31st total of 2,620,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the short-interest ratio is presently 1.9 days. Currently, 10.7% of the company’s stock are sold short.

Nine Energy Service Price Performance

Nine Energy Service stock traded up $0.18 during mid-day trading on Friday, reaching $1.27. The stock had a trading volume of 813,568 shares, compared to its average volume of 1,981,317. The company has a market capitalization of $53.72 million, a price-to-earnings ratio of -1.07 and a beta of 3.58. Nine Energy Service has a one year low of $0.75 and a one year high of $3.26. The company has a 50-day moving average price of $1.22 and a two-hundred day moving average price of $1.20.

Hedge Funds Weigh In On Nine Energy Service

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new stake in Nine Energy Service during the 4th quarter valued at $28,000. Prudential Financial Inc. purchased a new stake in Nine Energy Service during the fourth quarter valued at $32,000. Legato Capital Management LLC bought a new position in Nine Energy Service in the fourth quarter valued at about $35,000. XTX Topco Ltd increased its position in shares of Nine Energy Service by 49.9% during the 4th quarter. XTX Topco Ltd now owns 31,657 shares of the company’s stock valued at $35,000 after purchasing an additional 10,541 shares during the last quarter. Finally, Two Sigma Investments LP bought a new position in Nine Energy Service in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.

About Nine Energy Service

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.