Short Interest in Nine Energy Service, Inc. (NYSE:NINE) Declines By 33.8%

Nine Energy Service, Inc. (NYSE:NINE - Get Free Report) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 2,510,000 shares, a decline of 33.8% from the December 15th total of 3,790,000 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 2.1 days.

Nine Energy Service Stock Performance

Shares of NINE stock traded down $0.07 during trading hours on Tuesday, hitting $1.17. 1,171,828 shares of the company were exchanged, compared to its average volume of 2,554,226. The business's 50-day simple moving average is $1.25 and its two-hundred day simple moving average is $1.30. Nine Energy Service has a one year low of $0.75 and a one year high of $3.26. The stock has a market capitalization of $49.48 million, a price-to-earnings ratio of -0.97 and a beta of 3.54.

Insider Buying and Selling

In other news, insider Guy Sirkes sold 35,380 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.67, for a total transaction of $59,084.60. Following the completion of the sale, the insider now directly owns 156,966 shares in the company, valued at $262,133.22. This represents a 18.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder William Monroe purchased 435,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were purchased at an average cost of $1.19 per share, with a total value of $517,650.00. Following the transaction, the insider now owns 4,335,000 shares of the company's stock, valued at $5,158,650. This trade represents a 11.15 % increase in their position. The disclosure for this purchase can be found here. 6.20% of the stock is owned by insiders.

Institutional Trading of Nine Energy Service

A hedge fund recently bought a new stake in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Nine Energy Service, Inc. (NYSE:NINE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,460 shares of the company's stock, valued at approximately $31,000. Vanguard Personalized Indexing Management LLC owned 0.05% of Nine Energy Service at the end of the most recent quarter. Hedge funds and other institutional investors own 57.61% of the company's stock.

Nine Energy Service Company Profile

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