Northern Trust Corp Grows Position in Nine Energy Service, Inc. (NYSE:NINE)

Northern Trust Corp raised its position in Nine Energy Service, Inc. (NYSE:NINE) by 31.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,142 shares of the company’s stock after purchasing an additional 23,831 shares during the quarter. Northern Trust Corp owned 0.23% of Nine Energy Service worth $111,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC purchased a new position in shares of Nine Energy Service in the 4th quarter worth about $28,000. Prudential Financial Inc. purchased a new position in shares of Nine Energy Service in the 4th quarter worth about $32,000. Legato Capital Management LLC purchased a new position in shares of Nine Energy Service in the 4th quarter worth about $35,000. XTX Topco Ltd raised its holdings in shares of Nine Energy Service by 49.9% in the 4th quarter. XTX Topco Ltd now owns 31,657 shares of the company’s stock worth $35,000 after purchasing an additional 10,541 shares during the period. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of Nine Energy Service during the 4th quarter valued at about $127,000. 57.61% of the stock is currently owned by hedge funds and other institutional investors.

Nine Energy Service Stock Performance

Shares of NYSE:NINE opened at $0.52 on Wednesday. The company has a market cap of $21.81 million, a P/E ratio of -0.43 and a beta of 2.80. Nine Energy Service, Inc. has a one year low of $0.44 and a one year high of $2.02. The business’s 50-day simple moving average is $0.76 and its 200 day simple moving average is $1.07.

Nine Energy Service (NYSE:NINE) last announced its earnings results on Wednesday, May 7th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.02. The company had revenue of $150.47 million for the quarter, compared to analysts’ expectations of $149.10 million. Analysts predict that Nine Energy Service, Inc. will post -1.12 earnings per share for the current year.

Insider Activity at Nine Energy Service

In other Nine Energy Service news, insider Theodore R. Moore sold 38,017 shares of Nine Energy Service stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $0.73, for a total transaction of $27,752.41. Following the sale, the insider now directly owns 148,403 shares in the company, valued at $108,334.19. The trade was a 20.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 52,979 shares of company stock worth $37,902. 4.10% of the stock is currently owned by company insiders.

Nine Energy Service Profile

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.