Nine Energy Service, Inc. (NYSE:NINE – Get Rating) – Stock analysts at Atb Cap Markets decreased their Q1 2023 earnings estimates for Nine Energy Service in a report released on Wednesday, March 8th. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.08 per share for the quarter, down from their prior estimate of $0.25. The consensus estimate for Nine Energy Service’s current full-year earnings is $0.43 per share. Atb Cap Markets also issued estimates for Nine Energy Service’s Q2 2023 earnings at $0.09 EPS, Q3 2023 earnings at $0.13 EPS, Q4 2023 earnings at $0.13 EPS, FY2023 earnings at $0.43 EPS, Q1 2024 earnings at $0.19 EPS, Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.01 EPS and FY2025 earnings at $1.39 EPS.
Separately, EF Hutton Acquisition Co. I restated a “buy” rating and set a $18.00 price target on shares of Nine Energy Service in a research report on Monday, January 23rd.
Nine Energy Service Stock Down 7.7 %
Institutional Trading of Nine Energy Service
A number of hedge funds have recently bought and sold shares of NINE. Bank of New York Mellon Corp raised its holdings in Nine Energy Service by 275.6% in the 1st quarter. Bank of New York Mellon Corp now owns 117,133 shares of the company’s stock valued at $438,000 after acquiring an additional 85,948 shares during the last quarter. Vanguard Group Inc. raised its holdings in Nine Energy Service by 14.7% in the 1st quarter. Vanguard Group Inc. now owns 603,076 shares of the company’s stock valued at $2,255,000 after acquiring an additional 77,207 shares during the last quarter. XTX Topco Ltd acquired a new stake in Nine Energy Service in the 1st quarter valued at about $67,000. Jaffetilchin Investment Partners LLC acquired a new stake in Nine Energy Service in the 1st quarter valued at about $75,000. Finally, Millennium Management LLC acquired a new stake in Nine Energy Service in the 2nd quarter valued at about $215,000. Institutional investors and hedge funds own 52.61% of the company’s stock.
Insider Buying and Selling
In related news, major shareholder Warren Lynn Frazier sold 100,000 shares of the company’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $14.99, for a total transaction of $1,499,000.00. Following the completion of the transaction, the insider now owns 3,349,087 shares in the company, valued at approximately $50,202,814.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.
Nine Energy Service Company Profile
Nine Energy Service, Inc is an oilfield services business, which engages in the provision of services integral to the completion of unconventional wells. It offers cementing services, completion tools, wireline services, and coiled tubing services. The company was founded on September 26, 2011 and is headquartered in Houston, TX.
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