Squarepoint Ops LLC Decreases Position in Nine Energy Service, Inc. (NYSE:NINE)

Squarepoint Ops LLC decreased its holdings in shares of Nine Energy Service, Inc. (NYSE:NINE) by 31.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,550 shares of the company’s stock after selling 25,669 shares during the quarter. Squarepoint Ops LLC’s holdings in Nine Energy Service were worth $163,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NINE. Dimensional Fund Advisors LP lifted its stake in Nine Energy Service by 129.1% in the first quarter. Dimensional Fund Advisors LP now owns 37,512 shares of the company’s stock valued at $86,000 after buying an additional 21,138 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Nine Energy Service by 243.5% in the second quarter. Meeder Asset Management Inc. now owns 15,461 shares of the company’s stock valued at $45,000 after buying an additional 10,960 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Nine Energy Service by 27.4% in the second quarter. Vanguard Group Inc. now owns 534,386 shares of the company’s stock valued at $1,571,000 after purchasing an additional 115,026 shares during the period. Geode Capital Management LLC increased its holdings in shares of Nine Energy Service by 5.9% in the second quarter. Geode Capital Management LLC now owns 116,225 shares of the company’s stock valued at $341,000 after purchasing an additional 6,473 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Nine Energy Service by 7.0% in the second quarter. Franklin Resources Inc. now owns 880,506 shares of the company’s stock valued at $2,589,000 after purchasing an additional 57,947 shares during the period. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Separately, Zacks Investment Research lowered Nine Energy Service from a “hold” rating to a “sell” rating in a report on Tuesday, October 19th.

Shares of NINE stock opened at $1.51 on Thursday. The company has a debt-to-equity ratio of 22.56, a current ratio of 2.35 and a quick ratio of 1.65. The firm has a market capitalization of $49.57 million, a price-to-earnings ratio of -0.54 and a beta of 3.41. Nine Energy Service, Inc. has a 1-year low of $1.45 and a 1-year high of $4.04. The business’s fifty day simple moving average is $1.89.

Nine Energy Service (NYSE:NINE) last posted its earnings results on Wednesday, November 3rd. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.02). Nine Energy Service had a negative net margin of 27.49% and a negative return on equity of 1,386,887.25%. During the same period last year, the business posted ($1.13) earnings per share. On average, equities research analysts anticipate that Nine Energy Service, Inc. will post -2.54 earnings per share for the current year.

In other Nine Energy Service news, major shareholder Warren Lynn Frazier sold 42,755 shares of the company’s stock in a transaction on Monday, October 11th. The stock was sold at an average price of $2.30, for a total value of $98,336.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Nine Energy Service Company Profile

Nine Energy Service, Inc operates as an oilfield services company, which engages in the provision of completion solutions. It offers cementing services, completion tools, wireline services, and coiled tubing services. The company was founded in 2011 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for Nine Energy Service (NYSE:NINE)

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