Nine Energy Service (NYSE:NINE) Shares Up 16.3% - Here's Why

Shares of Nine Energy Service, Inc. (NYSE:NINE - Get Free Report) traded up 16.3% during trading on Friday . The company traded as high as $1.59 and last traded at $1.43. 7,669,398 shares changed hands during trading, an increase of 48% from the average session volume of 5,176,599 shares. The stock had previously closed at $1.23.

Nine Energy Service Trading Up 16.3 %

The stock has a market capitalization of $60.58 million, a PE ratio of -1.19 and a beta of 3.50. The business's 50 day moving average is $1.21 and its 200 day moving average is $1.32.

Insider Transactions at Nine Energy Service

In related news, insider Ann G. Fox sold 60,358 shares of Nine Energy Service stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $1.00, for a total transaction of $60,358.00. Following the completion of the sale, the insider now owns 697,935 shares in the company, valued at $697,935. This trade represents a 7.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Guy Sirkes sold 35,380 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 156,966 shares in the company, valued at $262,133.22. This represents a 18.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Nine Energy Service

A hedge fund recently bought a new stake in Nine Energy Service stock. Vanguard Personalized Indexing Management LLC purchased a new stake 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 & Exchange Commission. The firm purchased 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. 57.61% of the stock is owned by hedge funds and other institutional investors.

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.