Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Nine Energy Service Inc shares valued at $36,609 were sold by Sirkes Guy on Mar 13 ’24. At $2.19 per share, Sirkes Guy sold 16,709 shares. The insider’s holdings dropped to 117,918 shares worth approximately $0.35 million following the completion of this transaction.
Also, Fox Ann G sold 216,704 shares, netting a total of over 470,248 in proceeds. Following the sale of shares at $2.17 each, the insider now holds 508,783 shares.
Before that, Crombie David had sold 40,657 shares from its account. In a trade valued at $187,022, the insider traded Nine Energy Service Inc shares for $4.60 each. Upon closing the transaction, the insider’s holdings decreased to 40,657 shares, worth approximately $0.62 million.
As published in a research note from Citigroup on December 15, 2020, Nine Energy Service Inc [NINE] has been rated up from a Sell to a Neutral and the price target has been revised to $3 from $1. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid May. As of March 27, 2020, Goldman has decreased its “Buy” rating to a “Neutral” for NINE. Earlier on March 13, 2020, Wells Fargo downgraded its rating. Their new recommendation was “an Underweight” for NINE stock which previously was a “an Equal weight”.
Analyzing NINE Stock Performance
During the last five days, there has been a surge of approximately 17.00%. Over the course of the year, Nine Energy Service Inc shares have jumped approximately 10.45%. Shares of the company reached a 52-week high of $3.11 on 04/09/24 and a 52-week low of $1.97 on 03/07/24. A 50-day SMA is recorded $2.26, while a 200-day SMA reached $3.22. Nevertheless, trading volume fell to 0.62 million shares from 1.2 million shares the previous day.
Support And Resistance Levels for Nine Energy Service Inc (NINE)
According to the 24-hour chart, there is a support level at 2.82, which, if violated, would cause prices to drop to 2.67. In the upper region, resistance lies at 3.06. The next price resistance is at 3.16. RSI (Relative Strength Index) is 73.90 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.49, which suggests the price will decrease in the coming days. Percent R is at 14.42%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Nine Energy Service Inc subject to short interest?
Stocks of Nine Energy Service Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.35 million shares to 2.86 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.21 million shares. A decline of -12.24% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.92 of the overall float, the days-to-cover ratio (short ratio) decline to 4.92.
