Nine Energy Service, Inc. (NYSE:NINE) Major Shareholder Sells $1,499,000.00 in Stock

Nine Energy Service, Inc. (NYSE:NINEGet Rating) major shareholder Warren Lynn Frazier sold 100,000 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $14.99, for a total value of $1,499,000.00. Following the sale, the insider now directly owns 3,349,087 shares in the company, valued at $50,202,814.13. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Warren Lynn Frazier also recently made the following trade(s):

  • On Thursday, December 22nd, Warren Lynn Frazier sold 300,000 shares of Nine Energy Service stock. The stock was sold at an average price of $12.34, for a total value of $3,702,000.00.
  • On Thursday, December 1st, Warren Lynn Frazier sold 21,958 shares of Nine Energy Service stock. The shares were sold at an average price of $10.81, for a total value of $237,365.98.
  • On Thursday, November 17th, Warren Lynn Frazier sold 75,000 shares of Nine Energy Service stock. The shares were sold at an average price of $10.01, for a total value of $750,750.00.
  • On Tuesday, November 15th, Warren Lynn Frazier sold 72,489 shares of Nine Energy Service stock. The shares were sold at an average price of $9.89, for a total value of $716,916.21.
  • On Friday, November 11th, Warren Lynn Frazier sold 100,000 shares of Nine Energy Service stock. The shares were sold at an average price of $9.44, for a total value of $944,000.00.
  • On Wednesday, November 2nd, Warren Lynn Frazier sold 100,000 shares of Nine Energy Service stock. The shares were sold at an average price of $5.68, for a total value of $568,000.00.
  • On Thursday, October 27th, Warren Lynn Frazier sold 72,189 shares of Nine Energy Service stock. The shares were sold at an average price of $5.53, for a total value of $399,205.17.

Nine Energy Service Trading Up 1.3 %

Shares of Nine Energy Service stock opened at $14.83 on Friday. The firm has a market capitalization of $492.67 million, a PE ratio of -44.94 and a beta of 3.44. Nine Energy Service, Inc. has a twelve month low of $0.91 and a twelve month high of $17.10. The firm’s 50-day moving average price is $11.46 and its 200 day moving average price is $6.25.

Nine Energy Service (NYSE:NINEGet Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.22. The company had revenue of $167.43 million during the quarter, compared to analysts’ expectations of $154.20 million. On average, sell-side analysts predict that Nine Energy Service, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. lifted its stake in Nine Energy Service by 22.8% in the 3rd quarter. Prudential Financial Inc. now owns 14,000 shares of the company’s stock worth $37,000 after purchasing an additional 2,600 shares in the last quarter. Kestra Advisory Services LLC lifted its stake in Nine Energy Service by 9.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 33,356 shares of the company’s stock worth $88,000 after purchasing an additional 3,000 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Nine Energy Service by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 247,498 shares of the company’s stock worth $654,000 after purchasing an additional 12,256 shares in the last quarter. Algert Global LLC lifted its stake in Nine Energy Service by 42.3% in the 3rd quarter. Algert Global LLC now owns 49,750 shares of the company’s stock worth $131,000 after purchasing an additional 14,800 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Nine Energy Service in the 1st quarter worth approximately $67,000. 52.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, EF Hutton Acquisition Co. I reaffirmed a “buy” rating and issued a $18.00 price target (up from $15.50) on shares of Nine Energy Service in a research note on Friday, January 13th.

Nine Energy Service Company Profile

(Get Rating)

Nine Energy Service, Inc operates as an onshore completion services provider that targets unconventional oil and gas resource development across North American basins and internationally. It offers cementing services, which consist of 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.

Further Reading

Insider Buying and Selling by Quarter for Nine Energy Service (NYSE:NINE)

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