NCS Multistage Holdings, Inc. (NASDAQ:NCSM) Sees Large Decline in Short Interest

NCS Multistage Holdings, Inc. (NASDAQ:NCSM) saw a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 39,957 shares, a decrease of 39.0% from the July 30th total of 65,493 shares. Based on an average daily volume of 6,205 shares, the days-to-cover ratio is currently 6.4 days. Approximately 1.7% of the company’s stock are sold short.

Institutional Trading of NCS Multistage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NCSM. Truffle Hound Capital LLC acquired a new position in shares of NCS Multistage during the fourth quarter worth approximately $1,462,000. UBS Group AG grew its stake in shares of NCS Multistage by 9,535.4% in the third quarter. UBS Group AG now owns 23,703 shares of the company’s stock worth $1,210,000 after acquiring an additional 23,457 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of NCS Multistage in the first quarter worth $575,000. NewEdge Advisors LLC increased its position in NCS Multistage by 3,774.4% during the second quarter. NewEdge Advisors LLC now owns 8,175 shares of the company’s stock worth $241,000 after acquiring an additional 7,964 shares during the period. Finally, Lazard Asset Management LLC bought a new position in NCS Multistage during the first quarter worth $372,000. Institutional investors and hedge funds own 70.91% of the company’s stock.

Analysts Set New Price Targets

NCSM has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of NCS Multistage to a “hold” rating in a report on Saturday, July 18th. Zacks Research upgraded NCS Multistage from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NCS Multistage in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

NCS Multistage Stock Performance

NASDAQ:NCSM opened at $51.64 on Monday. The firm has a market capitalization of $135.30 million, a PE ratio of 10.63 and a beta of 0.17. NCS Multistage has a 1 year low of $34.06 and a 1 year high of $87.36. The company has a current ratio of 4.27, a quick ratio of 2.65 and a debt-to-equity ratio of 0.04. The firm’s fifty day simple moving average is $46.90 and its 200 day simple moving average is $51.96.

NCS Multistage (NASDAQ:NCSM) last released its quarterly earnings results on Thursday, July 30th. The company reported ($1.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.83). The firm had revenue of $38.36 million for the quarter, compared to the consensus estimate of $37.60 million. NCS Multistage had a net margin of 7.61% and a return on equity of 2.40%. On average, sell-side analysts anticipate that NCS Multistage will post 2.53 EPS for the current year.

About NCS Multistage

NCS Multistage Holdings, Inc is an oilfield services company that designs, engineers and manufactures downhole completion systems for use in hydraulic fracturing operations across North America. Specializing in multi‐stage stimulation technologies, the company’s product portfolio includes composite frac plugs, open‐hole frac systems and mechanical isolation tools that enable producers to optimize well performance in unconventional reservoirs. Its tools are employed in plug-and-perf operations, horizontal completions and re-entry applications, providing zonal isolation and pressure integrity throughout the fracturing process.

In addition to its core frac plug offerings, NCS Multistage provides a range of complementary services including on-site rig support, tool installation supervision and pressure testing.