Nine Energy Service Inc.’s recently made public that its 10% Owner Frazier Warren Lynn unloaded Company’s shares for reported $1.5 million on Jan 17. In the deal valued at $14.99 per share,100,000 shares were sold. As a result of this transaction, Frazier Warren Lynn now holds 3,349,087 shares worth roughly $ 31.08 million.
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Then, Frazier Warren Lynn sold 300,000 shares, generating $3,702,380 in total proceeds. Upon selling the shares at $12.34, the 10% Owner now owns 3,449,087 shares.
Before that, Frazier Warren Lynn sold 21,958 shares. Nine Energy Service Inc. shares valued at $237,289 were divested by the 10% Owner at a price of $10.81 per share. As a result of the transaction, Frazier Warren Lynn now holds 3,749,087 shares, worth roughly $34.79 million.
Citigroup upgraded its Nine Energy Service Inc. [NINE] rating to a Neutral from a a Sell in a research note published On Friday, December 15, 2020; the price target was increased to $3 from $1. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in mid May from “an Overweight” to “a Neutral”. Goldman also remained covering NINE and has decreased its forecast on March 27, 2020 with a “Neutral” recommendation from previously “Buy” rating. Wells Fargo revised its rating on March 13, 2020. It rated NINE as “an Underweight” which previously was an “an Equal weight”.
Price Performance Review of NINE
On Friday, Nine Energy Service Inc. [NYSE:NINE] saw its stock jump 2.32% to $9.28. Over the last five days, the stock has lost -12.20%. Nine Energy Service Inc. shares have fallen nearly -36.13% since the year began. Nevertheless, the stocks have risen 767.29% over the past one year. While a 52-week high of $17.10 was reached on 01/17/23, a 52-week low of $1.04 was recorded on 02/24/23. SMA at 50 days reached $12.27, while 200 days put it at $6.23. A total of 0.66 million shares were traded, compared to the trading of 0.83 million shares in the previous session.
Levels Of Support And Resistance For NINE Stock
The 24-hour chart illustrates a support level at 8.86, which if violated will result in even more drops to 8.43. On the upside, there is a resistance level at 9.50. A further resistance level may holdings at 9.71. The Relative Strength Index (RSI) on the 14-day chart is 35.30, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.25, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.85%. Stochastics %K at 9.57% indicates the stock is a buying.
How much short interest is there in Nine Energy Service Inc.?
A steep rise in short interest was recorded in Nine Energy Service Inc. stocks on Jan 12, 2023, dropping by -0.16 million shares to a total of 2.35 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 2.51 million shares. There was a decline of -6.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 13.13% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.28.
Nine Energy Service Inc. [NINE] – Who Are The Largest Shareholders?
In filings from SCF Partners, Inc., it is revealed that the company now owns 9,086,884 shares, or roughly 27.35% of the outstanding NINE shares. Additionally, Clarity Financial LLC decreased -22.52% of its stake after which the total value it holdings stand at $44,811,546, while Renaissance Technologies LLC added 256.97% of its stake to hold $11.42 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 481,638 shares of Nine Energy Service Inc., while Morgan Stanley & Co. LLC bought 682,841 shares. At present, Steamboat Capital Partners LLC is holding 453,163 shares valued at $6.21 million. Two Sigma Investments LP owned 404,322 shares of the company at the time of its most recent 13F filing, worth $5.54 million.
According to FactSet, Nine Energy Service Inc.’s share price will average $18.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 98.46 percent from its previous closing price of $9.07. Analysts expect Nine Energy Service Inc. stock to reach the higher price of $18.00, while the lowest price estimate is $18.00. However, 2 analysts have rated NINE stock as an Overweight in their predictions for 2023.