Nine Energy Service Inc (NYSE:NINE) price on Thursday, June 12, rose 4.26% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $0.59.
A look at the stock’s price movement, the close in the last trading session was $0.57. Turning to its 52-week performance, $2.02 and $0.44 were the 52-week high and 52-week low respectively. Overall, NINE moved -17.35% over the past month.
Nine Energy Service Inc’s market cap currently stands at around $24.95 million, with investors looking forward to this quarter’s earnings report slated for in July.
Analysts have a consensus estimate of 143.6M for the company’s revenue for the quarter, with a low and high estimate of 143.6M and 143.6M respectively. The average forecast suggests up to a 8.46% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 563.2M, representing a 1.64% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that NINE is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
1 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 1 recommend NINE as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
NINE’s current price about 10.12% and -15.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.00, while 7-day volatility ratio is 3.69% and 6.29% in the 30-day chart. Further, Nine Energy Service Inc (NINE) has a beta value of 2.51, and an average true range (ATR) of 0.07. Analysts have given the company’s stock an average 52-week price target of $18, forecast between a low of $18 and high of $18. Looking at the price targets, the low is -2950.85% off current price level while to achieve the yearly target high, price needs to move -2950.85%. Nonetheless, investors will most likely welcome a -2950.85% jump to $18 which is the analysts’ median price.
If we refocus on Nine Energy Service Inc (NYSE:NINE), historical trading data shows that trading volumes averaged 710.79K over the past 3 months. The company’s latest data on shares outstanding shows there are 42.35 million shares.
The 28.11% of Nine Energy Service Inc’s shares are in the hands of company insiders while institutional holders own 29.33% of the company’s shares. Current price change has pushed the stock -47.39% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the NINE stock continues to rise going into the next quarter.
