Nine Energy Service, Inc. (NYSEAMERICAN:NINE) Short Interest Down 38.6% in May

Nine Energy Service, Inc. (NYSEAMERICAN:NINE) was the target of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 31,685 shares, a decline of 38.6% from the April 30th total of 51,593 shares. Based on an average daily trading volume, of 40,946 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Nine Energy Service to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Nine Energy Service Price Performance

NINE stock opened at $11.10 on Wednesday. Nine Energy Service has a 1-year low of $10.71 and a 1-year high of $11.40. The business has a fifty day simple moving average of $9.57.

Nine Energy Service is an oilfield services company that provides completion and production solutions to upstream oil and gas operators. The company focuses on delivering field services and rental equipment used in well completion and production phases of drilling programs. Its client base includes exploration and production companies operating in onshore resource plays.

Nine Energy’s offerings center on specialized equipment and on-site technical services designed to support well completions and ongoing production operations.