Nine Energy Service (NYSE:NINE) Trading Up 16.3% – Should You Buy?

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

Nine Energy Service Price Performance

The stock has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.32. The company has a market capitalization of $60.58 million, a price-to-earnings ratio of -1.19 and a beta of 3.54.

Insider Activity at Nine Energy Service

In related news, insider Guy Sirkes sold 35,380 shares of Nine Energy Service stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.67, for a total value 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. The trade was a 18.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ann G. Fox sold 60,358 shares of the company’s stock in a transaction dated 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 $697,935. The trade was a 7.96 % decrease in their position. 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

An institutional investor recently bought a new position in Nine Energy Service stock. XTX Topco Ltd bought a new stake in shares of Nine Energy Service, Inc. (NYSE:NINE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,974 shares of the company’s stock, valued at approximately $32,000. XTX Topco Ltd owned about 0.05% of Nine Energy Service at the end of the most recent reporting period. Institutional investors and hedge funds own 57.61% of the company’s stock.

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.