Atb Cap Markets Has Pessimistic View of NINE FY2024 Earnings

Nine Energy Service, Inc. (NYSE:NINE) – Investment analysts at Atb Cap Markets reduced their FY2024 earnings per share (EPS) estimates for shares of Nine Energy Service in a report released on Tuesday, December 10th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of ($1.12) per share for the year, down from their prior forecast of ($1.10). The consensus estimate for Nine Energy Service’s current full-year earnings is ($1.10) per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q4 2024 earnings at ($0.24) EPS, Q1 2025 earnings at ($0.24) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.14) EPS, FY2025 earnings at ($0.75) EPS, Q1 2026 earnings at ($0.17) EPS, Q2 2026 earnings at ($0.15) EPS, Q3 2026 earnings at ($0.12) EPS and FY2026 earnings at ($0.57) EPS.

Nine Energy Service Price Performance

NINE opened at $1.14 on Friday. Nine Energy Service has a 12-month low of $0.75 and a 12-month high of $3.26. The business’s fifty day simple moving average is $1.23 and its 200-day simple moving average is $1.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NINE. Jaffetilchin Investment Partners LLC lifted its position in Nine Energy Service by 89.8% during the second quarter. Jaffetilchin Investment Partners LLC now owns 113,424 shares of the company’s stock valued at $191,000 after acquiring an additional 53,657 shares during the last quarter. Great Valley Advisor Group Inc. purchased a new position in Nine Energy Service in the second quarter worth $34,000. XTX Topco Ltd acquired a new position in shares of Nine Energy Service during the second quarter worth $32,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Nine Energy Service during the 2nd quarter valued at $31,000. Hedge funds and other institutional investors own 57.61% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ann G. Fox sold 60,358 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $1.00, for a total value of $60,358.00. Following the completion of the transaction, the insider now directly owns 697,935 shares of the company’s stock, valued at approximately $697,935. The trade was a 7.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder William Monroe acquired 435,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were bought at an average price of $1.19 per share, with a total value of $517,650.00. Following the completion of the purchase, the insider now directly owns 4,335,000 shares in the company, valued at $5,158,650. The trade was a 11.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.20% of the stock is owned by company insiders.

About Nine Energy Service

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.