The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nine Energy Service Inc shares valued at $578,788 were purchased by SCF-VII(A), L.P. on Nov 12 ’24. At $1.35 per share, SCF-VII(A), L.P. acquired 428,732 shares.
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Also, SCF-VII, L.P. purchased 2,071,268 shares, netting a total of over 2,796,212 in proceeds.
Before that, Fox Ann G had sold 136,929 shares from its account. In a trade valued at $157,331, the insider traded Nine Energy Service Inc shares for $1.15 each. Upon closing the transaction, the insider’s holdings decreased to 136,929 shares, worth approximately $0.7 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 drop of approximately -1.59%. Over the course of the year, Nine Energy Service Inc shares have dropped approximately -53.73%. Shares of the company reached a 52-week high of $3.2600 on 04/12/24 and a 52-week low of $0.7511 on 10/28/24. A 50-day SMA is recorded $1.1308, while a 200-day SMA reached $1.7198. Nevertheless, trading volume fell to 1.12 million shares from 1.65 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 1.1667, which, if violated, would cause prices to drop to 1.0933. In the upper region, resistance lies at 1.2967. The next price resistance is at 1.3533. RSI (Relative Strength Index) is 55.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.1679, which suggests the price will decrease in the coming days. Percent R is at 41.72%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
